Do confident individuals generally work harder?
Luc Renneboog () and
Philippe N. Tobler
Journal of Multinational Financial Management, 2018, vol. 44, issue C, 51-60
Predicting worker's effort is important in many different areas, but is often difficult. Using a laboratory experiment, we test the hypothesis that confidence, i.e. person-specific beliefs about her abilities, can be used as a generic proxy to predict effort provision. We measure confidence in the domain of financial knowledge in three different ways (self-assessed knowledge, probability-based confidence, and incentive-compatible confidence) and find a positive relation with the actual provision of effort in an unrelated domain. Additional analysis shows that the findings are independent of personal traits such as gender, age, and nationality.
Keywords: Confidence; Real-effort task; Financial literacy; Overconfidence (search for similar items in EconPapers)
JEL-codes: G11 J22 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:mulfin:v:44:y:2018:i:c:p:51-60
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