Dao Yuan

Confidence and Competence in Investor Cognition: An Exploratory Analysis of the Calibration Gap and Decision Biases

This article explores how subjective confidence and objective knowledge relate to investment decision behavior. The data are the investor sub-sample of the 2024 U.S. National Financial Capability Study (N=2861). Subjective knowledge uses a seven-point self-assessment, objective knowledge a twelve-item test; they correl...