It is argued that construction is an important sector of the Welsh economy in terms of employment, wages and growth. Key competence and capacity issues have arisen, however, due to large contracting firms concentrating on core activities and subcontracting peripheral activities to Small...

[...]We recommend that a study incorporating our suggested refinements should now take place into a furthergroup of sectors of interest to policy makers to test further the framework and any improvements builtinto it.[...]

In this paper the authors experimentally test overconfidence in investment decisions by ordering participants the possibility to substitute their own for alternative investment choices.

We experimentally test overconfidence in investment decisions by offering participants the possibility to substitute their own for alternative investment choices.Overall, 149 subjects participated in two experiments, one with just one risky asset, the other with two risky assets. Overconfidence...