Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/290092 
Year of Publication: 
2023
Series/Report no.: 
IDB Working Paper Series No. IDB-WP-1225
Publisher: 
Inter-American Development Bank (IDB), Washington, DC
Abstract: 
Overconfidence leads to risky behavior, including when people are around guns. Does overconfidence also shape attitudes about gun ownership and use? We evaluate this possibility by conducting nationally representative surveys in six countries in the Americas, including the United States. Results show that overconfident individuals are more willing to accept the use of guns and more likely to declare their willingness to use guns. These results indicate that overconfidence is a significant behavioral trait correlated with attitudes toward weapons handling, ownership, carrying, and use. Overall, over-confidence could lead, in equilibrium, to lower regulation than optimal and a higher amount of guns, even before considering the effect of the electoral system, lobbying, and campaign contributions. Efforts to correct the biases of individuals confronted with making decisions about guns should be a priority, especially in regulatory contexts. Information about actual performance and the risks entailed by wrong choices is a must. Obliging individuals to reflect on their choices may also help correct observed biases.
Subjects: 
Overconfidence
Gun attitudes
Gun behavior
Crime
Behavioral biases
JEL: 
D91
K40
D72
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by-nc-nd Logo
Document Type: 
Working Paper

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