Outcome feedback reduces over-forecasting of inflation and overconfidence in forecasts
Survey respondents over-forecast inflation: they expect it to be higher than it turns out to be. Furthermore, people are generally overconfident in their forecasts. In two experiments, we show that providing outcome feedback that informs people of the actual level of the inflation that they have for...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Cambridge University Press
2022-01-01
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| Series: | Judgment and Decision Making |
| Subjects: | |
| Online Access: | http://journal.sjdm.org/21/210609a/jdm210609a.pdf |