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Do confident individuals generally work harder?


Pikulina, Elena; Renneboog, Luc; Tobler, Philippe N (2018). Do confident individuals generally work harder? Journal of Multinational Financial Management, 44:51-60.

Abstract

Predicting worker’s effort is important in many different areas, but is often difficult. Using a laboratory experiment, we test the hypothesis that confidence, i.e. person-specific beliefs about her abilities, can be used as a generic proxy to predict effort provision. We measure confidence in the domain of financial knowledge in three different ways (self-assessed knowledge, probability-based confidence, and incentive-compatible confidence) and find a positive relation with the actual provision of effort in an unrelated domain. Additional analysis shows that the findings are independent of personal traits such as gender, age, and nationality.

Abstract

Predicting worker’s effort is important in many different areas, but is often difficult. Using a laboratory experiment, we test the hypothesis that confidence, i.e. person-specific beliefs about her abilities, can be used as a generic proxy to predict effort provision. We measure confidence in the domain of financial knowledge in three different ways (self-assessed knowledge, probability-based confidence, and incentive-compatible confidence) and find a positive relation with the actual provision of effort in an unrelated domain. Additional analysis shows that the findings are independent of personal traits such as gender, age, and nationality.

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Additional indexing

Item Type:Journal Article, refereed, original work
Communities & Collections:03 Faculty of Economics > Department of Economics
Dewey Decimal Classification:330 Economics
Uncontrolled Keywords:Confidence, real-effort task, financial literacy, overconfidence
Language:English
Date:1 March 2018
Deposited On:19 Feb 2019 15:33
Last Modified:01 Mar 2020 01:00
Publisher:Elsevier
ISSN:1042-444X
OA Status:Green
Publisher DOI:https://doi.org/10.1016/j.mulfin.2018.01.004

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