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Persistent link: https://www.econbiz.de/10014486366
This paper analyzes interactions between agents who are overconfident regarding their own future self-control relative to others. The paper considers the problem of incentivizing several such agents, and compares two methods: assigning work individually to each agent or jointly to pairs of...
Persistent link: https://www.econbiz.de/10013033681
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We propose a new channel through which teamwork improves mutual fund activity: by offsetting individual manager overconfidence, teams mitigate excessive performance-induced trading (PIT). The predictions of our theoretical model are confirmed in the data. Team-managed funds trade less after good...
Persistent link: https://www.econbiz.de/10012854234
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