Overconfidence Can Improve an Agent's Relative and Absolute Performance in Contests

This paper suggests a potential rationale for the recent empirical finding that overconfident agents tend to self-select into more competitive environments (e.g. Dohmen and Falk, 2006). In particular, it shows that moderate overconfidence in a contest can improve the agent's performance relative to an unbiased opponent and can even lead to an advantage of the overconfident agent in absolute terms

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Year of publication:	2009
Authors:	Ludwig, Sandra ; Wichardt, Philipp C. ; Wickhorst, Hanke
Publisher:	[S.l.] : SSRN
Subject:	Theorie \| Theory \| Arbeitsleistung \| Job performance \| Vertrauen \| Confidence \| Persönlichkeitspsychologie \| Personality psychology \| Extensives Spiel \| Extensive form game \| Wettbewerb \| Competition

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