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The curse of knowledge increases self-selection into competition : experimental evidence

Danz, David - 2014 - Rev.

The psychology literature provides ample evidence that people have difficulties taking the perspective of less-informed others. This paper presents a controlled experiment showing that this "curse of knowledge" can cause comparative overconfidence and overentry into competition. In a broader...

Persistent link: https://www.econbiz.de/10010403249

Gender differences in willingness to compete : the role of public observability

Buser, Thomas; Ranehill, Eva; Veldhuizen, Roel van - 2017

gender differences in labor market outcomes. However, whereas experiments investigating willingness to compete typically do …

Persistent link: https://www.econbiz.de/10011668546

What point of a distribution summarises point predictions?

Kröger, Sabine; Pierrot, Thibaud - 2019

In this article, we study the point predictions that forecasters report when they are asked to predict the realisation of an iid random variable. We set up a laboratory experiment where the participants act as forecasters predicting the next realisation of random draws coming from different...

Persistent link: https://www.econbiz.de/10012115998

Comparison of different question formats eliciting point predictions

Kröger, Sabine; Pierrot, Thibaud - 2019

Survey questions that elicit point predictions regarding uncertain events face an important challenge as human forecasters use various statistics to summarise their subjective expectations. In this paper, we take up the challenge and study whether alternative formulations of the questions used...

Persistent link: https://www.econbiz.de/10012115999

Can simple advice eliminate the gender gap in willingness to compete?

Kessel, Dany; Mollerstrom, Johanna; Veldhuizen, Roel van - 2021

As a recent literature has demonstrated, men and women differ in their willingness to sort into competitive environments. In particular, men are more willing than women to compete. We investigate whether it is possible to reduce the gender gap in willingness to compete through an information...

Persistent link: https://www.econbiz.de/10012607882

Risk taking, preferences, and beliefs : evidence from Wuhan

Bu, Di; Hanspal, Tobin; Liao, Yin; Liu, Yong - 2021

, while heterogeneity in experience further affect risk taking through beliefs about individuals' own outcomes such as luck …

Persistent link: https://www.econbiz.de/10012419372

Public statistics and private experience : varying feedback information in a take-or-pass game

Danz, David; Huck, Steffen; Jehiel, Philippe - 2015

We study how subjects in an experiment use different forms of public information about their opponents' past behavior. In the absence of public information, subjects appear to use rather detailed statistics summarizing their private experiences. If they have additional public information, they...

Persistent link: https://www.econbiz.de/10011437784

A life-cycle model with ambiguous survival beliefs

Groneck, Max; Ludwig, Alexander; Zimper, Alexander - 2015

-additive survival beliefs expressing ambiguity attitudes. We embed these neo-additive survival beliefs as decision weights in a Choquet … expected utility life-cycle consumption model and calibrate it with data on subjective survival beliefs from the Health and … Retirement Study. Our quantitative analysis shows that agents with calibrated neo-additive survival beliefs (i) save less than …

Persistent link: https://www.econbiz.de/10012061600

A life-cycle model with ambiguous survival beliefs

Groneck, Max; Ludwig, Alexander; Zimper, Alexander - 2014

adopt a Bayesian learning model of ambiguous survival beliefs which replicates these patterns. The model is embedded within … survival beliefs (i) save less than originally planned, (ii) exhibit undersaving at younger ages, and (iii) hold larger amounts …

Persistent link: https://www.econbiz.de/10010419819

Exposure to the COVID-19 stock market crash and its effect on household expectations

Hanspal, Tobin; Weber, Annika; Wohlfart, Johannes - 2020

experimental evidence that beliefs about the duration of the stock market recovery shape households' expectations about their own …

Persistent link: https://www.econbiz.de/10012223788