EVENT
Overconfidence and Some Behavioral Consequences
- Title:
- Overconfidence and Some Behavioral Consequences
- Presenter:
- Jeff Bailey
- Affiliations:
- Business & Economics
- Date:
- 2008-11-18
- Academic Year:
- 2008/09
- Description:
- In many situations, people tend to be overconfident in their beliefs and judgments. In this colloquium, I will show that there are three main ways in which overconfidence has been defined and investigated. The three forms of overconfidence to be discussed are embodied in Lake Wobegon effects, over-estimation effects, and over-precision effects. Overconfidence is often associated with serious, negative behavioral consequences. Why then, is this judgment error so persistent? Overconfidence also has some positive consequences for both individuals and groups.
- Original Link:
- http://www.uidaho.edu/class/mric/archives/pre-2010/fall2008/bailey
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- Citation:
- "Overconfidence and Some Behavioral Consequences", Renfrew Colloquium Archive, University of Idaho Library Digital Collections, https://www.lib.uidaho.edu/digital/mric/items/mric2008-09-011.html