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predicted effects of overconfidence. These studies assume, however, that a specific type of overconfidence, i.e., miscalibration …-established miscalibration bias. We find no gender differences in overconfidence for our measures except for one, where women are more … overconfidence and linked to the judgment literature in psychology. Empirical tests of the models often fail to find evidence for the …
Persistent link: https://www.econbiz.de/10010281612
Why are people so often overconfident? We conduct an experiment to test the hypothesis that people become overconfident to more effectively persuade or deceive others. After performing a cognitively challenging task, half of our subjects are informed that they can earn money by convincing others...
Persistent link: https://www.econbiz.de/10011663455
We experimentally investigate the determinants of overconfidence and test the hypothesis, advanced by Robert Trivers …, that overconfidence serves to more effectively persuade or deceive others. After performing a cognitively challenging task …
Persistent link: https://www.econbiz.de/10011441641
Overconfidence in one's relative performance within a group is a wide-spread phenomenon. Similar to individual (or … within-group) overconfidence, it was also shown that individuals are, on average, overconfident about the performance of … their group relative to other groups. We hypothesize that this between-group overconfidence should mitigate within …
Persistent link: https://www.econbiz.de/10010902505
We investigate the influence of overconfidence and risk aversion on individual financial decision making in the … their pre-experimental overconfidence scores, were assigned to the two types of markets: least overconfident subjects formed … trading activity were overconfidence dependent only for female participants. Mistakes in price forecasting, that are …
Persistent link: https://www.econbiz.de/10011266111
Miscalibration can be defined as the fact that people think that their knowledge is more precise than it actually is …. In a typical miscalibration experiment, subjects are asked to provide subjective confidence intervals. A very robust … fall inside the 90% intervals provided. As miscalibration is linked with bad results on a experimental financial market …
Persistent link: https://www.econbiz.de/10004988948
We examine factors that may contribute to 'overconfidence' in relative ability on an intelligence test. We test … an equilibrium strategy, providing a rationale for strategic overconfidence. …
Persistent link: https://www.econbiz.de/10010326528
salient perturbations, we propose a strategic foundation of overconfidence. Since overconfident statements are used in …
Persistent link: https://www.econbiz.de/10010328716
Contract compliance is key for economic growth. However, determinants affecting contract breach are not yet well understood. In this paper, we focus on contract situations with a potential hold-up problem, such as contract farming agreements which are prevalent in many developing countries. We...
Persistent link: https://www.econbiz.de/10012201854
Confidence in one's own abilities is often seen as an important determinant of being successful. Empirical evidence about how such beliefs about one's own abilities causally influence choices is, however, sparse. In this paper, we use a stylized laboratory experiment to investigate the causal...
Persistent link: https://www.econbiz.de/10012290064