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|dc.description.abstract||There are two phenomena in behavioral finance and economics which are seemingly unrelated and have been studied separately; overconfidence and ambiguity aversion. In this paper we are trying to link these two phenomena providing a theoretical foundation supported by evidence from an experimental study. We derive a model, based on the max-min ambiguity framework that links overconfidence to ambiguity aversion. In the experimental study we find that overconfidence is decreasing in ambiguity, as predicted by our model.||en|
|dc.title||Ambiguity and Overconfidence||en|
|Appears in Collections:||Finance Working Papers|
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|Ambg 11-2-28.F.pdf||365.71 kB||Adobe PDF||View/Open|
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