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risk motivates him to hire overconfident agents. We show that the induced overconfidence satisfies experimental stylized … overconfidence is a unique stable evolutionary strategy, and that it can Pareto-improve social welfare. Finally, we demonstrate …
Persistent link: https://www.econbiz.de/10008683298
This paper investigates forecasting performance and judgmental processes of experts and non-experts in soccer. Two circumstances motivated the paper: (i) little is known about how accurately experts predict sports events, and (ii) recent research on human judgment suggests that ignorance-based...
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It is widely believed that happiness is strongly correlated with wealth and income, but according to the happiness–income paradox, this is not always true. The paradox predicates that there is a strong positive correlation between income and happiness nationally, but the correlation is...
Persistent link: https://www.econbiz.de/10010999468
Purpose One of the major challenges for any project is to prepare and develop an achievable baseline schedule and thus set the project up for success, rather than failure. The purpose of this paper is to explore and investigate research outputs in one of the major causes, optimism bias, to...
Persistent link: https://www.econbiz.de/10014786847
The article's objective is to apply probabilistic inference in determination of the impact of the size of the general government sector on the economy and the impact of the economy on the size of the sector in EU Member States. The research indicated that 4 of 13 variables describing the size of...
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