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Experiments in psychology, where subjects estimate confidence intervals to a series of factual questions, have shown … that individuals report far too narrow intervals. This has been interpreted as evidence of overconfidence in the … growing literature in economics has incorporated overconfidence in models of, for instance, financial markets. In this paper …
Persistent link: https://www.econbiz.de/10010281394
attribute to a socially rational trade-off between informativeness and accuracy. -- overconfidence ; uncertainty ; monetary …Experiments in psychology, where subjects estimate confidence intervals to a series of factual questions, have shown … that individuals report far too narrow intervals. This has been interpreted as evidence of overconfidence in the …
Persistent link: https://www.econbiz.de/10001790875
overconfidence. Cognitive uncertainty represents a decision maker's uncertainty about her action optimality. We present a simple … model of overconfidence based on the concept of cognitive uncertainty. The model relates the concepts theoretically and …Overconfidence is one of the most ubiquitous cognitive bias. There is copious evidence of overconfidence being relevant …
Persistent link: https://www.econbiz.de/10013257953
overconfidence and overentry into competition. In a broader context, the results provide an explanation for the overconfidence of …
Persistent link: https://www.econbiz.de/10010396967
overconfidence and overentry into competition. In a broader context, the results provide an explanation for the overconfidence of …
Persistent link: https://www.econbiz.de/10010397879
overconfidence and overentry into competition. In a broader context, the results provide an explanation for the overconfidence of …
Persistent link: https://www.econbiz.de/10010403249
overconfidence and overentry into competition. In a broader context, the results provide an explanation for the overconfidence of …
Persistent link: https://www.econbiz.de/10010488505
overconfidence and overentry into competition. In a broader context, the results provide an explanation for the overconfidence of …
Persistent link: https://www.econbiz.de/10010955334
overconfidence and overentry into competition. In a broader context, the results provide an explanation for the overconfidence of …
Persistent link: https://www.econbiz.de/10011163925
It is a well-known phenomenon that people tend to overestimate their relative abilities. Psychological studies show that a vast majority of people thinks that their ability is above the average when they have to assess their position in a distribution of a target group. We analyse in an...
Persistent link: https://www.econbiz.de/10010263159