Showing 1 - 10 of 122
, however, that a specific type of overconfidence, i.e. “miscalibration,” captures the underlying trait. We challenge this …Overconfidence is used to explain various instances of detrimental decision making. In behavioral economic and finance …. Empirical tests of these models often fail to find evidence for the predicted effects of overconfidence. These studies assume …
Persistent link: https://www.econbiz.de/10011051333
the relative standing of their group among other groups. On average, individuals exhibit overconfidence bias in both types …, the salience of between-group judgments should mitigate within-group overconfidence. Our second hypothesis is that within …-group overconfidence is reduced in the presence of group identity. Using a 2×2 between-subject design, we test, and find strong support for …
Persistent link: https://www.econbiz.de/10011051357
We investigate whether overconfidence is affected by superstitious beliefs and whether the effect is heterogeneous … overconfidence is positively affected by being assigned to a lucky number. Interestingly, males and females react differently …: females’ overconfidence tends to be negatively affected when assigned to unlucky numbers, while they are not affected by being …
Persistent link: https://www.econbiz.de/10011117223
Previous work on the Dunning–Kruger effect has shown that poor performers often show little insight into the shortcomings in their performance, presumably because they suffer a double curse. Deficits in their knowledge prevent them from both producing correct responses and recognizing that the...
Persistent link: https://www.econbiz.de/10011051336
, we study whether, and to what extent, the miscalibration (largely, overconfidence) of the unskilled can be reduced by … to feedback, there appears to be a residual miscalibration of relative performance judgments by the unskilled that we …
Persistent link: https://www.econbiz.de/10011051337
Standard social choice experiments generally force subjects to make decisions about giving money to another person, but the ability to avoid information outside of the lab could lead to less altruistic or fair behavior than such experiments tend to suggest. I expand on the design of Dana, Weber,...
Persistent link: https://www.econbiz.de/10011117236
dependent on the sources of information used by investors and on investors’ overconfidence. We add to the existing literature by …
Persistent link: https://www.econbiz.de/10010617617
We investigate the effects of a range of different types of anchor on WTP and WTA valuations of familiar consumer products, elicited through individuals’ buying or selling decisions at given prices. We find anchoring effects only when the anchor value is framed as a plausible price for the...
Persistent link: https://www.econbiz.de/10010730005
In this paper, we describe three different experiments that explore participants’ risk attitude. When we analyzed the average results, we found that participants behave as the S-shape value function predicts. However, breaking the data down on the individual level reveals that the S-shape is...
Persistent link: https://www.econbiz.de/10010730009
We study the effects of the tax burden on tax evasion both theoretically and experimentally. We develop a theoretical framework of tax evasion decisions that is based on two behavioral assumptions: (1) taxpayers are endowed with reference dependent preferences that are subject to hedonic...
Persistent link: https://www.econbiz.de/10010738067