We study the relationship between overconfidence and the political and financial behavior of a nationally representative sample. Consistent with theoretical predictions, our findings indicate that excessive confidence in one's judgment is associated with lower portfolio diversification, greater...

Experimental evidence has convincingly shown the existence of reciprocal inclinations, i.e., a tendency for people to respond in-kind to hostile or kind actions. Little is known, however, about: (i) the prevalence of reciprocity in the population, (ii) individual determinants of reciprocity,...