Overconfidence can improve an agent's relative and absolute performance in contests
In 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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- Luís Santos-Pinto, 2010.
"Positive Self-Image In Tournaments,"
International Economic Review,
Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 51(2), pages 475-496, 05.
- Santos-Pinto, Luís, 2003. "Positive self-image in tournaments," MPRA Paper 3140, University Library of Munich, Germany, revised 27 Feb 2007.
- Bjorn Bartling & Ernst Fehr & Michel Andre Marechal & Daniel Schunk, 2009. "Egalitarianism and Competitiveness," American Economic Review, American Economic Association, vol. 99(2), pages 93-98, May.
- Munetomo Ando, 2004. "Overconfidence in Economic Contests," Econometric Society 2004 Far Eastern Meetings 708, Econometric Society. Full references (including those not matched with items on IDEAS)