Confidence, Overconfidence, and Retirement Planning

RAND Behavioral Finance Webinar

by Andrew M. Parker

This talk first reviews the literature on confidence and decisionmaking and then goes on to present results from data analyzed from a national sample recruited through RAND's American Life Panel, an Internet panel study of U.S. adults aged 18–88 years, which examined the relationship of confidence with self-reported and actual financial decisions, using four different tasks, each performed by overlapping samples of American Life Panel participants. Implications for the role of confidence in investment behavior is discussed.

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