Arbeitspapier
Overconfidence Can Improve an Agent's Relative and Absolute Performance in Contests
This paper suggests a potential rationale for the recent empirical finding that overconfident agents tend to self-select into more competitive environments (e.g. Dohmen and Falk, forthcoming). In particular, it shows that moderate overconfidence in a contest can improve the agent's performance relative to an unbiased opponent and can even lead to an advantage for the overconfident agent in absolute terms.
- Language
-
Englisch
- Bibliographic citation
-
Series: Munich Discussion Paper ; No. 2010-35
- Classification
-
Wirtschaft
Firm Behavior: Theory
Auctions
Asymmetric and Private Information; Mechanism Design
- Subject
-
Overconfidence
Contests
Vertrauen
Persönlichkeitspsychologie
Wettbewerb
Arbeitsleistung
Extensives Spiel
Theorie
- Event
-
Geistige Schöpfung
- (who)
-
Ludwig, Sandra
Wichardt, Philipp C.
Wickhorst, Hanke
- Event
-
Veröffentlichung
- (who)
-
Ludwig-Maximilians-Universität München, Volkswirtschaftliche Fakultät
- (where)
-
München
- (when)
-
2010
- DOI
-
doi:10.5282/ubm/epub.11885
- Handle
- URN
-
urn:nbn:de:bvb:19-epub-11885-3
- Last update
-
10.03.2025, 11:44 AM CET
Data provider
This object is provided by:
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ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Ludwig, Sandra
- Wichardt, Philipp C.
- Wickhorst, Hanke
- Ludwig-Maximilians-Universität München, Volkswirtschaftliche Fakultät
Time of origin
- 2010
Other Objects (12)
Overconfidence Can Improve an Agent's Relative and Absolute Performance in Contests
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Absolute vs. relative success: Why overconfidence is an inefficient equilibrium
Gender differences in overconfidence and decision-making in high-stakes competitions: Evidence from freediving contests
Gender differences in overconfidence and decision making in high-stakes competitions: evidence from freediving contests
Relative und absolute Geschmacksurteile
Relative und absolute Geschmacksurteile
Caricature: Absolute and Relative
"Absolute und relative Wahrheit"
Relative Schwerebestimmungen, Absolute Schwerebestimmungen
Absolute oder relative Bewegung?
Absolute oder relative Bewegung?
Overconfidence Can Improve an Agent's Relative and Absolute Performance in Contests
Absolute vs. relative success: Why overconfidence is an inefficient equilibrium
Absolute vs. relative success: Why overconfidence is an inefficient equilibrium
Gender differences in overconfidence and decision-making in high-stakes competitions: Evidence from freediving contests
Gender differences in overconfidence and decision making in high-stakes competitions: evidence from freediving contests
Relative und absolute Geschmacksurteile
Relative und absolute Geschmacksurteile
Caricature: Absolute and Relative
"Absolute und relative Wahrheit"
Relative Schwerebestimmungen, Absolute Schwerebestimmungen
Absolute oder relative Bewegung?
Absolute oder relative Bewegung?
Overconfidence Can Improve an Agent's Relative and Absolute Performance in Contests
Absolute vs. relative success: Why overconfidence is an inefficient equilibrium
Absolute vs. relative success: Why overconfidence is an inefficient equilibrium
Gender differences in overconfidence and decision-making in high-stakes competitions: Evidence from freediving contests
Gender differences in overconfidence and decision making in high-stakes competitions: evidence from freediving contests
Relative und absolute Geschmacksurteile
Relative und absolute Geschmacksurteile
Caricature: Absolute and Relative
"Absolute und relative Wahrheit"
Relative Schwerebestimmungen, Absolute Schwerebestimmungen
Absolute oder relative Bewegung?