search query: @author Güth, W. / total: 5
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| Author: | Dittrich, D.A. Güth, W. Maciejovsky, B. |
| Title: | Overconfidence in investment decisions: An experimental approach |
| Journal: | European Journal of Finance
2005 : DEC, VOL. 11:6, p. 471-491 |
| Index terms: | decision making finance investments risk models |
| Language: | eng |
| Abstract: | This paper investigates overconfidence (hereafter as: o-conf.) in an investment (here as: inv.) setting, comparing the evaluation of actual inv. decisions with alternative choices. O-conf. is defined as the persistent overevaluation of the own inv. decision. Results indicate that o-conf. increases (i) with the absolute deviation from optimal choices, (ii) with task complexity involving the number of risky assets, and (iii) decreases with individual perceived uncertainty. |
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