Grossman, Zachary; Owens, David - Department of Economics, University of California-Santa … - 2011
How does overconfidence arise and persist in the face of experience and feedback? We examine experimentally how … individuals' beliefs about their absolute, as opposed to relative, performance on a quiz react to noisy, but unbiased, feedback …. Participants believe themselves to have received `unlucky' feedback and they overestimate their own scores, but they exhibit no …