Resource title

The Dynamics of Overconfidence: Evidence from Stock Market Forecasters

Resource image

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Resource description

As a group, market forecasters are egregiously overconfident. In conformity to the dynamic model of overconfidence of Gervais and Odean (2001), successful forecasters become more overconfident. What?s more, more experienced forecasters have ?learned to be overconfident,? and hence are more susceptible to this behavioral flaw than their less experienced peers. It is not just individuals who are affected. Markets also become more overconfident when market returns have been high.

Resource author

Richard Deaves, Erik Lüders, Michael Schröder

Resource publisher

Resource publish date

Resource language

eng

Resource content type

text/html

Resource resource URL

http://hdl.handle.net/10419/24179

Resource license

Adapt according to the presented license agreement and reference the original author.