Own experience bias in evaluating the efforts of others

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dc.cclicenceCC-BY-NCen
dc.contributor.authorCartwright, Edward
dc.contributor.authorWooders, Myrna
dc.date.acceptance2020-03-13
dc.date.accessioned2020-05-21T08:13:00Z
dc.date.available2020-05-21T08:13:00Z
dc.date.issued2020-04-06
dc.descriptionThe file attached to this record is the author's final peer reviewed version. The Publisher's final version can be found by following the DOI link.en
dc.description.abstractWe develop a model with which to explore how an individuals own experience in the labor market may influence her assessment of the efforts of other individuals. Specifically, we consider a two stage process in which individuals first learn, through experience, whether effort is rewarded and then subsequently have to estimate the effort of others. We derive a theoretical benchmark based on rational inference and then explore how own experience may lead to systematic bias from this benchmark. Our theoretical results suggest that those who are not rewarded for high effort will underestimate the effort of other individuals while those for whom effort is rewarded will (slightly) overestimate the effort of others. We empirically test and confirm this prediction in the lab.en
dc.funderOther external funder (please detail below)en
dc.funder.otherNuffielden
dc.identifier.citationCartwright, E., and Wooders, M. (2020) Own experience bias in evaluating the efforts of others. Journal of Economic Behavior & Organization, 173, pp.164-178.en
dc.identifier.doihttps://doi.org/10.1016/j.jebo.2020.03.015
dc.identifier.issn0167-2681
dc.identifier.urihttps://dora.dmu.ac.uk/handle/2086/19630
dc.language.isoenen
dc.peerreviewedYesen
dc.projectidN/Aen
dc.publisherElsevieren
dc.researchinstituteInstitute for Applied Economics and Social Value (IAESV)en
dc.subjectbayesian updatingen
dc.subjectown experienceen
dc.subjectattribution erroren
dc.subjectfalse consensusen
dc.titleOwn experience bias in evaluating the efforts of othersen
dc.typeArticleen

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