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Why are some people more optimistic about their life than others? Literature on locus of control suggests that optimism is associated with the belief that one’s life outcomes are controlled by internal factors, such as ability, instead of external factors, such as powerful others or chance....
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Based on the aggregated insights of the existing theories related to multiple sources of efficacy and locus of control, we introduce the theory of mixed control, a model of compound-risk perception. This theory considers outcome expectancies as being composed of expectancies regarding three...
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This paper develops a methodology for estimating the parameters of dynamic opinion or expectation formation processes … with social interactions. We study a simple stochastic framework of a collective process of opinion formation by a group of … approach can be used to estimate the parameters of the opinion formation process from aggregate data on its average realization …
Persistent link: https://www.econbiz.de/10003721492
A couple of recent papers have shifted the focus towards disagreement of professional forecasters. When dealing with survey data that is sampled at a frequency higher than annual and that includes only fixed event forecasts, e.g. expectation of average annual growth rates measures of...
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