Self-Esteem, Shame and Personal Motivation
AbstractEvidence from psychology suggests that overconfidence is more important in North America than in Japan. The pattern is reversed for shame, an emotion that appears to play a more important role among Japanese than North Americans. We develop a model that endogenizes these differences, building on a tradeoff between the benefits of encouraging self-improvement and the benefits of promoting initiative and new investments. Overconfidence and high sensitivity to shame emerge as substitute mechanisms to induce efficient decisions. We identify the key equilibrium costs as well as benefits of reliance on each mechanism, and the implications for welfare.
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Bibliographic InfoPaper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 8722.
Date of creation: Dec 2011
Date of revision:
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Other versions of this item:
- Dessi, Roberta & Zhao, Xiaojian, 2011. "Self-Esteem, Shame and Personal Motivation," TSE Working Papers 10-191, Toulouse School of Economics (TSE), revised Dec 2013.
- Dessi, Roberta & Zhao, Xiaojian, 2011. "Self-Esteem, Shame and Personal Motivation," IDEI Working Papers 639, Institut d'Économie Industrielle (IDEI), Toulouse, revised Dec 2013.
- D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
- D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search, Learning, and Information
- Z13 - Other Special Topics - - Cultural Economics - - - Economic Sociology; Economic Anthropology; Social and Economic Stratification
This paper has been announced in the following NEP Reports:
- NEP-ALL-2012-01-03 (All new papers)
- NEP-EVO-2012-01-03 (Evolutionary Economics)
- NEP-NEU-2012-01-03 (Neuroeconomics)
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- Ana I. Balsa & Michael T. French & Tracy L. Regan, 2013. "Relative Deprivation and Risky Behaviors," Documentos de Trabajo/Working Papers 1304, Facultad de Ciencias Empresariales y Economia. Universidad de Montevideo..
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