Does the Better-Than-Average Effect Show That People Are Overconfident?: An Experiment.
We conduct a proper test of the claim that people are overconfident, in the sense that they believe that they are better than others. The results of the experiment we present do not allow us to reject the hypotheses that the data has been generated by perfectly rational, unbiased, and appropriately confident agents.
D11 - Consumer Economics: Theory, D12 - Consumer Economics: Empirical Analysis, D82 - Asymmetric and Private Information; Mechanism Design, D83 - Search; Learning; Information and Knowledge; Communication; Belief
DOI identifier: 10.2139/ssrn.1337733