This paper introduces a tractable, structural model of subjective beliefs. Since agents that plan for the future care … overestimate the return of their investment and underdiversify. In general equilibrium, agents' prior beliefs are endogenously … and overoptimistic, and consume more than implied by rational beliefs early in life. Third, in choosing when to undertake …

We examine how beliefs about the debt-to-GDP ratio affect people's attitudes towards government spending and taxation …

We examine how beliefs about the debt-to-GDP ratio affect people's attitudes towards government spending and taxation …

external factors, such as powerful others or chance. Furthermore, some authors suggest that internal control beliefs interact … with self-efficacy beliefs regarding their effects on outcome expectancies and thus optimism. We argue that it is not only … self-efficacy that interacts, but efficacy beliefs about external factors, too. We further hypothesize that the effect of …

entrepreneurship is a complex and dynamic activity, involving multiple sources of risk. Beliefs about the efficacy of these elements … control beliefs is therefore at the core of our theory. Further, we discuss that risks are not only subjectively perceived but …

beliefs about GPA. Furthermore, students seem to update their probabilistic beliefs in a manner consistent with Bayesian … analysis: Prior beliefs about outcomes to be realized in college tend to be fairly precise, while new information influences … prior beliefs about outcomes in the workplace. Moreover, students who are more uncertain about major-specific outcomes in …

dissonance affects the reporting of beliefs, and 2) whether individuals exert sufficient mental effort when probed about their … subjective beliefs. For this purpose, I collect a unique panel data set of Northwestern University undergraduates that contains … cognitive biases systematically affecting the reporting of beliefs: By analyzing patterns of belief updating, I can rule out …

In this paper we discuss the role of the cross-sectional heterogeneity of beliefs in the context of understanding and … volatility in the US. - Heterogeneous beliefs ; business cycles ; regime-switching ; forecasting ; endogenous transition …