Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/161168 
Erscheinungsjahr: 
2017
Schriftenreihe/Nr.: 
IZA Discussion Papers No. 10545
Verlag: 
Institute of Labor Economics (IZA), Bonn
Zusammenfassung: 
We report an experiment that infers true overconfidence in relative ability through actions, as opposed to reported beliefs. Subjects choose how to invest earnings from a skill task when the returns depend solely upon risk, or both risk and relative placement, enabling joint estimation of individual risk preferences and implied subjective beliefs of placing in the top half. We find evidence of aggregate overconfidence only in a treatment that receives minimal feedback on performance in a trial task. In treatments that receive more detailed feedback, aggregate overconfidence is not observed although identifiable segments of overand underconfident individuals persist.
Schlagwörter: 
true overconfidence
overplacement
subjective beliefs
joint estimation
JEL: 
C91
D03
D81
D83
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
412.31 kB





Publikationen in EconStor sind urheberrechtlich geschützt.