Confidence, Overconfidence, and Retirement Planning

RAND Behavioral Finance Webinar

Published Dec 17, 2013

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.

This report is part of the RAND presentation series. RAND presentations may include briefings related to a body of RAND research, videos of congressional testimonies, and a multimedia presentation on a topic or RAND capability. All RAND presentations represent RAND's commitment to quality and objectivity.

This document and trademark(s) contained herein are protected by law. This representation of RAND intellectual property is provided for noncommercial use only. Unauthorized posting of this publication online is prohibited; linking directly to this product page is encouraged. Permission is required from RAND to reproduce, or reuse in another form, any of its research documents for commercial purposes. For information on reprint and reuse permissions, please visit www.rand.org/pubs/permissions.

RAND is a nonprofit institution that helps improve policy and decisionmaking through research and analysis. RAND's publications do not necessarily reflect the opinions of its research clients and sponsors.