Thoughts on quantifying overconfidence in economic experiments

Julija Michailova () and Joana K. Q. Katter

MPRA Paper from University Library of Munich, Germany

Abstract: This article illustrates the difficulties of quantifying overconfidence in economic experiments and suggests a procedure for the development of the reliable overconfidence measurement instrument (test). Following the suggested two-stage procedure a sample measure of overconfidence is developed. First a pilot test is conducted to divide the initial fifty items into three difficulty levels: hard, moderate and easy questions. A final test was compiled of six questions of each difficulty levels. In the second phase a replicability check was run with the final instrument.

Keywords: overconfidence quantification; instrument development; economic experiment. (search for similar items in EconPapers)
JEL-codes: C49 C80 C90 (search for similar items in EconPapers)
Date: 2013-01
New Economics Papers: this item is included in nep-cbe and nep-exp
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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https://mpra.ub.uni-muenchen.de/44399/1/MPRA_paper_44399.pdf original version (application/pdf)

Related works:
Working Paper: Thoughts on quantifying overconfidence in economic experiments (2014)
Working Paper: Development of the overconfidence measurement instrument for the economic experiment (2010)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:44399

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