Scholars have recently proposed that overconfidence pervades self-judgment because of the social benefits it provides …-functional account of overconfidence is that the possible social costs of overconfidence could outweigh its benefits. Specifically …, individuals could be severely punished by groups if their overconfidence were to become apparent to others. This paper examines …

The status-enhancement theory of overconfidence proposes that overconfidence pervades self-judgment because it helps … with status demotions, then the status costs might outweigh the status benefits of overconfidence – thereby casting doubt … on the benefits of overconfidence. In three studies, we found that group members did not react negatively to individuals …

Overprecision is the most robust type of overconfidence. We present a new method that significantly reduces this bias …

In this paper, we investigate how market competition contributes to the expression of overconfidence among those … helps advisors sell their advice. However, competition between advisors in the market further exacerbates overconfidence. In … a third study, we demonstrate that the market competition drives overconfidence even when advisors vary in quality. We …