Social comparison and confidence: When thinking you’re better than average predicts overconfidence (and when it does not)

By Richard P. Larrick, Katherine Burson, Jack B. Soll. 2007

327 citations recorded by the source corpus.

Subfields: Applied Psychology, Cognitive Neuroscience, Sociology and Political Science

View Paper: https://www.semanticscholar.org/paper/c2e3b6ce945197f798f5399652b903eed012b8f6

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Citations in the corpus

True Overconfidence: The Inability of Rational Information Processing to Account for Apparent Overconfidence (2011, unknown): “The relationship between these different forms of overconfidence is discussed for instance, in Glaser, Langer, and Weber (2009), Healy and Moore (2007), and Larrick, Burson, and Soll (2007).”
When overconfidence is revealed to others: Testing the status-enhancement theory of overconfidence (2013, background): “Indeed, main effects of overconfidence are assessed by this simple difference between self-perceived ability and actual task performance (Gigerenzer, Hoffrage, & Kleinbölting, 1991; Larrick et al., 2007).”
Executive Personality, Capability Cues, and Risk Taking (2011, background): “Although executives’ confidence in their abilities to manage events or to foresee the future may be erroneous (Larrick, Burson, and Soll, 2007; Moore and Small, 2007), there can be little question that executives take actions, or refrain from actions, partly on the basis of their confidence.”
The detrimental effects of power on confidence, advice taking, and accuracy (2011, background): “Past research has shown that some factors, such as amount of information, affect confidence more than they affect accuracy (Oskamp, 1965; Tsai, Klayman, & Hastie, 2010), whereas other factors, such as question difficulty, affect accuracy more than confidence (Brenner, 2003; Larrick et al., 2007; Lic”
Impact of Financial Literacy and Behavioural Biases on Investment Decision-making (2021, background): “Overconfidence is essentially the over estimation on one’s own ability because investors believe that they can make better decisions than others can but in reality it is not achievable (Larrick et al., 2007).”
The trouble with overconfidence. (2008, unknown): “It is those individuals with the best performances on any given task who are most likely to underestimate their actual performances (Klayman et al., 1999; Krueger & Mueller, 2002; Kruger & Dunning, 1999; Larrick et al., 2007).”
Financial Overconfidence Over Time - Foresight, Hindsight, and Insight of Investors (2017, unknown): “If investors hold stable views of their skills and abilities (as argued for example by Larrick et al., 2007), we can still use them in our panel analysis.”