Titelaufnahme

Titel
Worker overconfidence: field evidence and implications for employee turnover and returns from training / Mitchell Hoffman (University of Toronto and NBER), Stephen V. Burks (University of Minnesota, Morris and IZA) ; IZA Institute of Labor Economics
VerfasserHoffman, Mitchell ; Burks, Stephen V.
KörperschaftForschungsinstitut zur Zukunft der Arbeit
ErschienenBonn, Germany : IZA Institute of Labor Economics, May 2017
Ausgabe
Elektronische Ressource
Umfang1 Online-Ressource (35 Seiten) : Diagramme
SerieDiscussion paper ; no. 10794
URNurn:nbn:de:hbz:5:2-126004 
Zugriffsbeschränkung
 Das Dokument ist öffentlich zugänglich im Rahmen des deutschen Urheberrechts.
Volltexte
Worker overconfidence: field evidence and implications for employee turnover and returns from training [0.3 mb]
Links
Nachweis
Verfügbarkeit In meiner Bibliothek
Zusammenfassung

Combining weekly productivity data with weekly productivity beliefs for a large sample of truckers over two years, we show that workers tend to systematically and persistently overpredict their productivity. If workers are overconfident about their own productivity at the current firm relative to their outside option, they should be less likely to quit. Empirically, all else equal, having higher productivity beliefs is associated with an employee being less likely to quit. To study the implications of overconfidence for worker welfare and firm profits, we estimate a structural learning model with biased beliefs that accounts for many key features of the data. While worker overconfidence moderately decreases worker welfare, it also substantially increases firm profits. This may be critical for firms (such as the main one we study) that make large initial investments in worker training.