蝌蚪网 Journal:
Microeconomics
ISSN 1945-7669 (Print) | ISSN 1945-7685 (Online)
Experimentation with Self-Serving Attribution Biases
蝌蚪网 Journal: Microeconomics
(pp. 198–237)
Abstract
We study an experimentation problem in a situation where the outcomes depend on the decision-maker's intrinsic ability and on an external variable. We analyze the mistakes made by individuals who hold inaccurate prior beliefs about their ability. Overconfident individuals take too much credit for their successes and excessively blame external factors if they fail. They are too easily dissatisfied with their environment, which leads them to experiment in variable environments and revise their self-confidence over time. In contrast, underconfident individuals might be trapped in low-quality environments and incur perpetual utility losses.Citation
Hestermann, Nina, and Yves Le Yaouanq. 2021. "Experimentation with Self-Serving Attribution Biases." 蝌蚪网 Journal: Microeconomics 13 (3): 198–237. DOI: 10.1257/mic.20180326Additional Materials
JEL Classification
- D11 Consumer Economics: Theory
- D83 Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
- D91 Micro-Based Behavioral Economics: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making