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Thoughts on quantifying overconfidence in economic experiments

  • Michailova, Julija
  • Katter, Joana K. Q.

This article illustrates the difficulties of quantifying overconfidence in economic experiments and suggests a procedure for the development of the reliable overconfidence measurement instrument (test). Following the suggested two-stage procedure a sample measure of overconfidence is developed. First a pilot test is conducted to divide the initial fifty items into three difficulty levels: hard, moderate and easy questions. A final test was compiled of six questions of each difficulty levels. In the second phase a replicability check was run with the final instrument.

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File URL: http://mpra.ub.uni-muenchen.de/44399/1/MPRA_paper_44399.pdf
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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 44399.

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Date of creation: Jan 2013
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Handle: RePEc:pra:mprapa:44399
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