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Motivated belief updating and rationalization of information

Drobner, Christoph; Goerg, Sebastian J. - 2022

holding positive beliefs. This finding provides a behavioral explanation why and how overconfidence can evolve in the presence …

Persistent link: https://www.econbiz.de/10013433247

Overconfidence in Forecasts of Own Performance: An Experimental Study

Clark, Jeremy; Friesen, Lana - Department of Economics and Finance, College of … - 2006

Overconfidence can have important economic consequences, but has received little direct testing within the discipline …. We test for overconfidence in forecasts of own absolute or relative performance in two unfamiliar experimental tasks … realized outcomes. We find very limited evidence of overconfidence, with zero mean error or under-confidence more prevalent …

Persistent link: https://www.econbiz.de/10005111064

Cognitive Biases and Gaze Direction: An Experimental Study

Innocenti, Alessandro; Rufa, Alessandra; Semmoloni, Jacopo - Dipartimento di Politica Economica, Finanza e Sviluppo … - 2008

This paper investigates the validity of the model of dual processing by means of eyetracking methods. In this theoretical framework, gaze direction may be a revealing signal of how automatic detection is modified or sustained by controlled search. We performed an experiment by using a stylized...

Persistent link: https://www.econbiz.de/10005766549

How unaware are the unskilled? Empirical tests of the “signal extraction” counterexplanation for the Dunning–Kruger effect in self-evaluation of performance

Schlösser, Thomas; Dunning, David; Johnson, Kerri L.; … - In: Journal of Economic Psychology 39 (2013) C, pp. 85-100

Previous work on the Dunning–Kruger effect has shown that poor performers often show little insight into the shortcomings in their performance, presumably because they suffer a double curse. Deficits in their knowledge prevent them from both producing correct responses and recognizing that the...

Persistent link: https://www.econbiz.de/10011051336

The curse of knowledge increases self-selection into competition: Experimental evidence

Danz, David - Verein für Socialpolitik - VfS - 2014

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

Do You Know That I Am Biased? An Experiment

Ludwig, Sandra; Nafziger, Julia - University of Bonn, Germany - 2007

This experiment explores whether individuals know that other people are biased. We confirm that overestimation of abilities is a pervasive problem, but observe that most people are not aware of it, i.e. they think others are unbiased. We investigate several explanations for this result. As a...

Persistent link: https://www.econbiz.de/10004968372

The importance of knowing your own reputation

Greiff, Matthias; Paetzel, Fabian - 2012

We experimentally investigate a finitely repeated public good game with varying partners. Within each period, participants are pairwise matched and contribute simultaneously. Participants are informed about contributions and each participant evaluates her partner's contribution. At the beginning...

Persistent link: https://www.econbiz.de/10010294404

On the impulse in impulse learning

Ding, Jieyao; Nicklisch, Andreas - 2013

This paper experimentally investigates the nature of impulses in impulse learning. Particularly, we analyze whether positive feedback (i.e., yielding a superior payoff in a game) or negative feedback (i.e., yielding an inferior payoff in a game) leads to a systematic change in the individual...

Persistent link: https://www.econbiz.de/10010323851

Correlation Neglect in Belief Formation

Enke, Benjamin; Zimmermann, Florian - 2013

Many information structures generate correlated rather than mutually independent signals, the news media being a prime example. This paper shows experimentally that in such contexts many people neglect these correlations in the updating process and treat correlated information as independent. In...

Persistent link: https://www.econbiz.de/10010328793

Beliefs and Utility: Experimental Evidence on Preferences for Information

Falk, Armin; Zimmermann, Florian - 2016

Beliefs are a central determinant of behavior. Recent models assume that beliefs about or the anticipation of future consumption have direct utilityconsequences. This gives rise to informational preferences, i.e., preferences over the timing and structure of information. Using a novel and...

Persistent link: https://www.econbiz.de/10011555503