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Does the Better-Than-Average Effect Show That People Are Overconfident?: Two Experiments

Jean-Pierre Benoît, Juan Dubra () and Don Moore

MPRA Paper from University Library of Munich, Germany

Abstract: 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)

Related works:
Journal Article: DOES THE BETTER-THAN-AVERAGE EFFECT SHOW THAT PEOPLE ARE OVERCONFIDENT?: TWO EXPERIMENTS (2015) Downloads
Working Paper: Does the better –than- average effect show that people are Overconfident?: two experiments (2013) Downloads
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