Overconfidence of Professionals and Lay Men : Individual Differences Within and Between Tasks ?

  title={Overconfidence of Professionals and Lay Men : Individual Differences Within and Between Tasks ?},
  author={Markus Glaser and Thomas Langer},
Overconfidence can manifest itself in various forms. For example, people think that their knowledge is more precise than it really is (miscalibration) and they believe that their abilities are above average (better than average effect). The questions whether judgment biases are related or whether stable individual differences in the degree of overconfidence exist, have long been unexplored. In this paper, we present two studies that analyze whether professional traders or investment bankers who… CONTINUE READING
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