This experimental study measures three types of overconfidence in the decision behavior of participants from Germany and Japan. In the first stage of the experiment subjects completed a Raven Progressive Matrices test and subsequently assessed their test performance in absolute and relative...

When designing new products, firms face not only customer preference uncertainty, but also sophisticated social influence among customers. The social influence suggests that customers' decisions could be influenced by the mainstream view/opinion shared by the crowd; e.g., conformist customers...