Benoît, Jean-Pierre and Dubra, Juan and Moore, Don (2009): Does the Better-Than-Average Effect Show That People Are Overconfident?: Two Experiments.
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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.
Item Type: | MPRA Paper |
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Original Title: | Does the Better-Than-Average Effect Show That People Are Overconfident?: Two Experiments. |
Language: | English |
Keywords: | Overconfidence; Better than Average; Experimental Economics; Irrationality; Signalling Models. |
Subjects: | D - Microeconomics > D1 - Household Behavior and Family Economics D - Microeconomics > D8 - Information, Knowledge, and Uncertainty D - Microeconomics > D8 - Information, Knowledge, and Uncertainty > D80 - General |
Item ID: | 44956 |
Depositing User: | Juan Dubra |
Date Deposited: | 11 Mar 2013 15:52 |
Last Modified: | 26 Sep 2019 11:22 |
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URI: | https://mpra.ub.uni-muenchen.de/id/eprint/44956 |