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Confidence and Career Choices: An Experiment

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  • Kai Barron
  • Christina Gravert

Abstract

Confidence is often seen as an important determinant of success. However, empirical evidence regarding the causal effect of confidence on choices is sparse. Using a stylized laboratory experiment, we examine the effect of an increase in confidence on two important labor market choices: (i) the amount of ability‐contingent earnings risk to take on, and (ii) the subsequent effort choice. We find that increased confidence leads subjects to take on more ability‐contingent earnings risk. However, effort levels are unaffected. Overall, the upward shift in confidence is detrimental for low‐ability workers as a result of high baseline levels of confidence.

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  • Kai Barron & Christina Gravert, 2022. "Confidence and Career Choices: An Experiment," Scandinavian Journal of Economics, Wiley Blackwell, vol. 124(1), pages 35-68, January.
    • Handle: RePEc:bla:scandj:v:124:y:2022:i:1:p:35-68
    DOI: 10.1111/sjoe.12444
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    Cited by:

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    3. Manar Alnamlah & Christina Gravert, 2020. "She Could Not Agree More: The Role of Failure Attribution in Shaping the Gender Gap in Competition Persistence," CEBI working paper series 20-25, University of Copenhagen. Department of Economics. The Center for Economic Behavior and Inequality (CEBI).
    4. Murad, Zahra & Starmer, Chris, 2021. "Confidence snowballing and relative performance feedback," Journal of Economic Behavior & Organization, Elsevier, vol. 190(C), pages 550-572.
    5. Yves Breitmoser & Lian Xue & Jiwei Zheng & Daniel John Zizzo, 2023. "Organizational Design and Error Propagation: Theory and Experiment," Discussion Papers Series 666, School of Economics, University of Queensland, Australia.

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    JEL classification:

    • C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
    • D03 - Microeconomics - - General - - - Behavioral Microeconomics: Underlying Principles
    • M50 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Personnel Economics - - - General
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity

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