Does the Better-Than-Average Effect Show That People Are Overconfident?: Two Experiments
Juan Dubra () and
MPRA Paper from University Library of Munich, Germany
We conduct two experiements of the claim that people are overconfident. We develop new tests of overplacement which are based on a formal Bayesian model. Our two experiments, on easy quizzes, find overplacement. More precisely, we find apparently overconfident data that cannot be accounted for by a rational population of expected utility maximizers with a good understanding of the nature of the quizzes they took.
Keywords: Overconfidence; Better than Average; Experimental Economics; Irrationality; Signalling Models. (search for similar items in EconPapers)
JEL-codes: D1 D8 D80 (search for similar items in EconPapers)
Date: 2009-10-11, Revised 2013-03-11
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https://mpra.ub.uni-muenchen.de/44956/1/MPRA_paper_44956.pdf original version (application/pdf)
Journal Article: DOES THE BETTER-THAN-AVERAGE EFFECT SHOW THAT PEOPLE ARE OVERCONFIDENT?: TWO EXPERIMENTS (2015)
Working Paper: Does the better –than- average effect show that people are Overconfident?: two experiments (2013)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:44956
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