THESIS
2016
viii, 93 pages : illustrations ; 30 cm
Abstract
Self-confidence/overconfidence is always regarded as one of the most
important self-related concepts in psychological and behavioral economics
studies. From exogenous perspective, overconfidence has been treated as
investors' and entrepreneurs' inner characteristics to analyze their asset market
trading activities and firm development strategies. From endogenous
perspective, overconfidence is determined by individual's demand of
self-encouragement and motivation, but few articles provide theoretical or
empirical support to such correlation analysis. Whether individuals' past
experiences can be recognized as significant factors in determining or
adjusting their confidence level, and what kind of influencing degree could be
achieved, have always been controversial topics, especi...[
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Self-confidence/overconfidence is always regarded as one of the most
important self-related concepts in psychological and behavioral economics
studies. From exogenous perspective, overconfidence has been treated as
investors' and entrepreneurs' inner characteristics to analyze their asset market
trading activities and firm development strategies. From endogenous
perspective, overconfidence is determined by individual's demand of
self-encouragement and motivation, but few articles provide theoretical or
empirical support to such correlation analysis. Whether individuals' past
experiences can be recognized as significant factors in determining or
adjusting their confidence level, and what kind of influencing degree could be
achieved, have always been controversial topics, especially if researchers
implement different self-confidence measurements.
This study is aimed at empirically supporting stability explanation, which
illustrates individual dynamic movement as a possible contributor of their
self-confidence. 3186 cross-sectional samples were collected from an online
survey conducted on a WeChat Platform. Three categories of independent
variables are included in the survey: (1) Respondents demographic
information; (2) Respondents historical experiences which reflect their past
life stability; (3) Respondents expectations about their future dynamic
movements. Besides, a cognitive-based test was provided to participants.
Their absolute as well as relative confidence judgments on their test
performance are recorded. Both binary regression and ordinal logistic
regression have been applied to evaluate the effect of the above three groups
of independent variables on individual absolute and relative self-confidence as
well as overconfidence. Regression results prove a negative relationship
between high stability level and high absolute self-confidence while cannot
prove such correlation between stability and relative self-confidence.
Keywords: self-confidence, overconfidence, stability, migration
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