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Overconfidence and career choice

Author

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  • Jonathan Schulz

    (University of Nottingham, School of Economics)

  • Christian Thoeni

    (University of Lausanne)

Abstract

People self-assess their relative ability when making career choices. Thus, confidence in own abilities is likely an important factor for selection into various career paths. In a sample of 711 first-year students we examine whether there are systematic differences in confidence levels across fields of study. We find evidence for selection based on our experimental confidence measure: While Political Science students exhibit the highest confidence levels, students of Humanities range at the other end of the scale. This may have important implications for subsequent earnings and/or professions students select themselves in.

Suggested Citation

  • Jonathan Schulz & Christian Thoeni, 2014. "Overconfidence and career choice," Discussion Papers 2014-15, The Centre for Decision Research and Experimental Economics, School of Economics, University of Nottingham.
  • Handle: RePEc:not:notcdx:2014-15
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    References listed on IDEAS

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    Cited by:

    1. Barron, Kai & Gravert, Christina, 2018. "Confidence and Career Choices: An Experiment," Working Papers in Economics 715, University of Gothenburg, Department of Economics.
    2. Trejos, Cristian & van Deemen, Adrian & Rodríguez, Yeny E. & Gómez, Juan M., 2019. "Overconfidence and disposition effect in the stock market: A micro world based setting," Journal of Behavioral and Experimental Finance, Elsevier, vol. 21(C), pages 61-69.
    3. Jonathan Schulz & Uwe Sunde & Petra Thiemann & Christian Thoeni, 2019. "Selection into Experiments: Evidence from a Population of Students," Discussion Papers 2019-09, The Centre for Decision Research and Experimental Economics, School of Economics, University of Nottingham.

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    Keywords

    Overconfidence; selection; field of study; career choice;
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