Overconfidence can improve an agent's relative and absolute performance in contests
AbstractIn this paper, we show that moderate overconfidence in a contest can improve the agent's performance relative to an unbiased opponent and even lead to an advantage in absolute terms.
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Bibliographic InfoArticle provided by Elsevier in its journal Economics Letters.
Volume (Year): 110 (2011)
Issue (Month): 3 (March)
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Web page: http://www.elsevier.com/locate/ecolet
Other versions of this item:
- Ludwig, Sandra & Wichardt, Philipp C. & Wickhorst, Hanke, 2010. "Overconfidence Can Improve an Agent's Relative and Absolute Performance in Contests," Discussion Papers in Economics 11885, University of Munich, Department of Economics.
- D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
- D44 - Microeconomics - - Market Structure and Pricing - - - Auctions
- D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Santos-Pinto, Luís, 2003.
"Positive self-image in tournaments,"
3140, University Library of Munich, Germany, revised 27 Feb 2007.
- Vanessa Mertins & Wolfgang Hoffeld, 2013. "Do Overconfident Workers Cooperate Less? The Relationship between Overconfidence and Cooperation in Team Production," IAAEU Discussion Papers 201313, Institute of Labour Law and Industrial Relations in the European Union (IAAEU).
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