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produtores brasileiros, para garantir a proteção de preço do produto........This paper aimed to identify signs of overconfidence … perceive a risk that is lower than that of the market. Finally, the paper concludes that the overconfidence effect can …
Persistent link: https://www.econbiz.de/10011149578
People self-assess their relative ability when making career choices. Thus, confidence in own abilities is likely an important factor for selection into various career paths. In a sample of 711 first-year students we examine whether there are systematic differences in confidence levels across...
Persistent link: https://www.econbiz.de/10011154552
communication. We also show that when the sender is biased, overconfidence can lead to more information transmission and welfare …
Persistent link: https://www.econbiz.de/10011154920
It is commonly believed that women are more likely to seek advice than men; for example, on aspects of health or asking for directions when lost. This paper investigates whether women’s relatively greater propensity for advice seeking extends to important business decisions, specifically those...
Persistent link: https://www.econbiz.de/10011169739
We provide a preference-based rationale for endogenous overconfidence. Horizon-dependent risk aversion, combined with a … possibility to forget, can generate overconfidence and excessive risk taking in equilibrium. An “anxiety prone” agent, who is more … results to the literature on empirically observed overconfidence and excessive risk taking in several domains of financial and …
Persistent link: https://www.econbiz.de/10011170309
This paper formulates a model of utility for a continuous time frame-work that captures the decision-maker's concern with ambiguity about both volatility and drift. Corresponding extensions of some basic results in asset pricing theory are presented. First, we derive arbitrage-free pricing rules...
Persistent link: https://www.econbiz.de/10011183676
other stylized effects such as size, book-to-market ratio and momentum. Consistent with investor overconfidence hypothesis …
Persistent link: https://www.econbiz.de/10011185173
’, estimating that it under-represents their score by 13%. However, they exhibit no such overconfidence in non-ego-relevant beliefs … ‘unlucky feeling’ is largely due to overconfident priors, with biased updating driving overconfidence only among the … than beliefs about a particular performance, contributing to the persistence of overconfidence. …
Persistent link: https://www.econbiz.de/10011048066
. The optimal agenda-setting power to the chairman is a strictly concave function of the degree of overconfidence. We also …
Persistent link: https://www.econbiz.de/10011048128
We examine whether Hungarian investors liquidate their winning investments too early and close their losing positions too late. We analyze 130 university students' trading activity for 2009 and 2010. We investigate the disposition effect by four distinct methodologies: by the realized and...
Persistent link: https://www.econbiz.de/10011048934