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models of social learning to investigate the micro-level mechanisms. We find that overconfidence and conservatism contribute …
Persistent link: https://www.econbiz.de/10011794457
We study a dynamic model of opinion formation in social networks. In our model, boundedly rational agents update opinions by averaging over their neighbors' expressed opinions, but may misrepresent their own opinion by conforming or counter-conforming with their neighbors. We show that an...
Persistent link: https://www.econbiz.de/10010357984
We investigate the role of manipulation in a model of opinion formation. Agents repeatedly communicate with their neighbors in the social network, can exert effort to manipulate the trust of others, and update their opinions about some common issue by taking weighted averages of neighbors'...
Persistent link: https://www.econbiz.de/10010357991
Anscombe and Aumann (1963) offer a definition of subjective probability in terms of comparisons with objective probabilities. That definition - which has provided the basis for much of the succeeding work on subjective probability - presumes that the subjective probability of an event is...
Persistent link: https://www.econbiz.de/10013264885
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A growing body of evidence suggests that people exhibit large biases when processing information about themselves, but less is known about the underlying inference process. This paper studies belief updating patterns regarding academic ability in a large sample of students transitioning from...
Persistent link: https://www.econbiz.de/10012154090
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Overconfidence leads to risky behavior, including when people are around guns. Does overconfidence also shape attitudes … use of guns and more likely to declare their willingness to use guns. These results indicate that overconfidence is a … significant behavioral trait correlated with attitudes toward weapons handling, ownership, carrying, and use. Overall, over-confidence …
Persistent link: https://www.econbiz.de/10014517408
Household financial resilience is related to the availability of financial resources but also to the ability to anticipate and assess future situations and prepare for them accordingly. Overplacement describes the tendency of individuals to rate themselves better than others, i.e. they believe...
Persistent link: https://www.econbiz.de/10015075031