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Coexistence and Dynamics of Overconfidence and Strategic Incentives
de Goeij, Peter; Bosquet, K.; Smedts, K. - Tilburg University, Center for Economic Research - 2009
provides empirical evidence on the coexistence of overconfidence and strategic incentives. …
Persistent link: https://www.econbiz.de/10011091075
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Overconfidence among professional investors: Evidence from mutual fund managers
Pütz, Alexander; Ruenzi, Stefan - Institut für Finanzmarktforschung, Wirtschafts- und … - 2010
We examine overconfidence among equity mutual fund managers. While overconfidence has been extensively documented among … retail investors, evidence from professional investors is scarce. Consistent with theories of overconfidence, we find that …
Persistent link: https://www.econbiz.de/10010984850
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Do differing pay schemes help close the gender gap in overconfidence
Lahav, Eyal; Nir, Arad; Siniver, Erez - In: Economics Bulletin 35 (2015) 1, pp. 30-36
We conducted an experiment to compare how overconfidence is influenced by performance-based and fixed payment schemes … overconfidence of women, and decreased the overconfidence of men. As a result, no gender difference in overconfidence was found when …
Persistent link: https://www.econbiz.de/10011199657
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Apparent Overconfidence
Dubra, Juan; Benoit, Jean-Pierre - Facultad de Ciencias Empresariales y Economía, … - 2011
It is common for a majority of people to rank themselves as better than average on simple tasks and worse than average on dificult tasks. The literature takes for granted that this apparent miscon?dence is problematic. We argue, however, that this behaviour is consistent with purely rational...
Persistent link: https://www.econbiz.de/10010558709
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The Problem of Prevention
Dubra, Juan; Benoit, Jean-Pierre - Facultad de Ciencias Empresariales y Economía, … - 2011
Many disasters are foreshadowed by insuficient preventive care. In this paper, we argue that there is a true problem of prevention, in that insu¢ cient care is often the result of rational calculations on the part of agents. We identify two factors that lead to dubious e¤orts in care. First,...
Persistent link: https://www.econbiz.de/10010561150
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Visualisation of data in management accounting reports
Hirsch, Bernhard; Seubert, Anna; Sohn, Matthias - In: Journal of Applied Accounting Research 16 (2015) 2, pp. 221-239
Purpose – Managers are confronted with increasing information overload and growing pressure for effective and efficient decision making. The visualisation of data represents a way to overcome this dilemma and to improve management decision quality. The purpose of this paper is to transfer...
Persistent link: https://www.econbiz.de/10014838108
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Overconfidence and trading volume
Glaser, Markus; Weber, Martin - In: The Geneva Papers on Risk and Insurance Theory 32 (2007) 1, pp. 1-36
hypothesis by correlating individual overconfidence scores with several measures of trading volume of individual investors … facets of overconfidence (miscalibration, volatility estimates, better than average effect). The measures of trading volume … the calibration literature and model overconfidence as underestimation of the variance of signals. In connection with …
Persistent link: https://www.econbiz.de/10005722868
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Banker Compensation and Confirmation Bias
Sabourian, Hamid; Sibert, Anne - C.E.P.R. Discussion Papers - 2009
Confirmation bias refers to cognitive errors that bias one towards one's own prior beliefs. A vast empirical literature documents its existence and psychologists identify it as one of the most problematic aspects of human reasoning. In this paper, we present three related scenarios where...
Persistent link: https://www.econbiz.de/10005661569
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Great Expectations: Past Wages and Unemployment Durations
Böheim, René; Horvath, Gerard Thomas; Winter-Ebmer, Rudolf - Institut für Volkswirtschaftslehre, … - 2010
profited from high firm rents in the past. We interpret our findings as evidence for overconfidence generated by imperfectly …
Persistent link: https://www.econbiz.de/10008484493
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A Simple Model of Self-Assessments
Martinez, Silvia Dominguez; Swank, Otto H. - Tinbergen Instituut - 2006
We develop a simple model that describes individuals’ self-assessments oftheir abilities. We assume that individuals learn about their abilities from appraisalsof others and experience. Our model predicts that if communicationis imperfect, then (i) appraisals of others tend to be too positive,...
Persistent link: https://www.econbiz.de/10011257106