Overconfidence Increases Productivity

Yusuke Kinari, Noriko Mizutani, Fumio Ohtake and Hiroko Okudaira

ISER Discussion Paper from Institute of Social and Economic Research, The University of Osaka

Abstract: Recent studies report that productivity increases under tournament reward structures than under piece rate reward structures. We conduct maze-solving experiments under both reward structures and reveal that overconfidence is a significant factor in increasing productivity. Specifically, subjects exhibiting progressively higher degrees of overconfidence solve more mazes. This result shows a positive aspect of overconfidence, which usually has been examined in its negative aspect as an expectation bias.

Date: 2011-08
New Economics Papers: this item is included in nep-cbe, nep-eff, nep-evo, nep-exp, nep-hrm and nep-lma
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Persistent link: https://EconPapers.repec.org/RePEc:dpr:wpaper:0814

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