On the Verges of Overconfidence
This symposium provides several examples of overconfidence in certain economic contexts. Michael Grubb looks at "Overconfident Consumers in the Marketplace." Ulrike Malmendier and Geoffrey Tate consider "Behavioral CEOs: The Role of Managerial Overconfidence." Kent Daniel and Dav...
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| Veröffentlicht in: | The Journal of economic perspectives 2015-10, Vol.29 (4), p.3-7 |
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| container_title | The Journal of economic perspectives |
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| creator | Malmendier, Ulrike Taylor, Timothy |
| description | This symposium provides several examples of overconfidence in certain economic contexts. Michael Grubb looks at "Overconfident Consumers in the Marketplace." Ulrike Malmendier and Geoffrey Tate consider "Behavioral CEOs: The Role of Managerial Overconfidence." Kent Daniel and David Hirshleifer discuss "Overconfident Investors, Predictable Returns, and Excessive Trading." A number of insights and lessons emerge for our understanding of markets, public policy, and welfare. How do firms take advantage of consumer overconfidence? Might government attempts to rule out such practices end up providing benefits to some consumers but imposing costs on others? How are empirical measures of CEO overconfidence related to investment and the capital structure of firms? Can overconfidence among at least some investors help to explain prominent anomalies in stock markets like high levels of trading volume and certain predictable patterns in stock market returns? |
| doi_str_mv | 10.1257/jep.29.4.3 |
| format | Article |
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Can overconfidence among at least some investors help to explain prominent anomalies in stock markets like high levels of trading volume and certain predictable patterns in stock market returns?</description><subject>Behavior</subject><subject>Behavioral economics</subject><subject>Behavioural economics</subject><subject>Bias</subject><subject>Chief executive officers</subject><subject>Confidence</subject><subject>Consumer behavior</subject><subject>Consumer psychology</subject><subject>Consumers</subject><subject>Economic conditions</subject><subject>Economic theory</subject><subject>Economics</subject><subject>Economists</subject><subject>Investment policy</subject><subject>Investments</subject><subject>Investors</subject><subject>Optimism</subject><subject>Personality psychology</subject><subject>Psychological aspects</subject><subject>Rates of return</subject><subject>Return on investment</subject><subject>Securities markets</subject><subject>Social psychology</subject><subject>Stock exchanges</subject><subject>Strategic management</subject><subject>Studies</subject><subject>Symposium: Overconfidence</subject><subject>Wealth</subject><subject>Welfare economics</subject><issn>0895-3309</issn><issn>1944-7965</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>2015</creationdate><recordtype>article</recordtype><sourceid>JFNAL</sourceid><sourceid>8G5</sourceid><sourceid>BENPR</sourceid><sourceid>GUQSH</sourceid><sourceid>M2O</sourceid><recordid>eNqN0E1LxDAQBuAgCq6rF-9iwYsIrZlMkiZHWfyChV7Ua2jaqW7ZbdekK_jv7bLiwYvOHOby8MK8jJ0Cz0Co_LqldSZsJjPcYxOwUqa51WqfTbixKkXk9pAdxdjy7Wg1YedFlwxvlLxQeKWY9E1SfFCo-q5Z1NRVdMwOmnIZ6eT7Ttnz3e3T7CGdF_ePs5t5WikJQ6rqWgA2VpfQeGOF4OQVeuTaa6rGNTYHW5bkpdIWjfCEUCtP4CXnWOKUXe5y16F_31Ac3GoRK1ouy476TXSQa5BG8Bz-SQFhSy9-0bbfhG58ZFQKtdBG8b8UV2BUPqqrnapCH2Ogxq3DYlWGTwfcbct3Y_lOWCcdjvhsh9s49OFHStQAnBv8AkfzfNg</recordid><startdate>20151001</startdate><enddate>20151001</enddate><creator>Malmendier, Ulrike</creator><creator>Taylor, Timothy</creator><general>American Economic Association</general><scope>JFNAL</scope><scope>AAYXX</scope><scope>CITATION</scope><scope>8BJ</scope><scope>FQK</scope><scope>JBE</scope><scope>K9.</scope><scope>0-V</scope><scope>3V.</scope><scope>7WY</scope><scope>7WZ</scope><scope>7X7</scope><scope>7XB</scope><scope>87Z</scope><scope>88C</scope><scope>88E</scope><scope>88J</scope><scope>8FI</scope><scope>8FJ</scope><scope>8FK</scope><scope>8FL</scope><scope>8G5</scope><scope>ABUWG</scope><scope>AFKRA</scope><scope>ALSLI</scope><scope>AZQEC</scope><scope>BENPR</scope><scope>BEZIV</scope><scope>CCPQU</scope><scope>DWQXO</scope><scope>FRNLG</scope><scope>FYUFA</scope><scope>F~G</scope><scope>GHDGH</scope><scope>GNUQQ</scope><scope>GUQSH</scope><scope>K60</scope><scope>K6~</scope><scope>L.-</scope><scope>M0C</scope><scope>M0S</scope><scope>M0T</scope><scope>M1P</scope><scope>M2O</scope><scope>M2R</scope><scope>MBDVC</scope><scope>PQBIZ</scope><scope>PQBZA</scope><scope>PQEST</scope><scope>PQQKQ</scope><scope>PQUKI</scope><scope>PRINS</scope><scope>Q9U</scope></search><sort><creationdate>20151001</creationdate><title>On the Verges of Overconfidence</title><author>Malmendier, Ulrike ; 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| language | eng |
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| source | Jstor Complete Legacy; EZB-FREE-00999 freely available EZB journals; American Economic Association Web; EBSCOhost Business Source Complete |
| subjects | Behavior Behavioral economics Behavioural economics Bias Chief executive officers Confidence Consumer behavior Consumer psychology Consumers Economic conditions Economic theory Economics Economists Investment policy Investments Investors Optimism Personality psychology Psychological aspects Rates of return Return on investment Securities markets Social psychology Stock exchanges Strategic management Studies Symposium: Overconfidence Wealth Welfare economics |
| title | On the Verges of Overconfidence |
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