Ability, Self-Confidence, and Search
2003
We explore optimal search for individual improvement when agents start with different confidence in their own ability. The initial self-confidence may be determined by nature or socioeconomic factors. Presuming Bayesian learning, we show that final achievements depend positively on initial confidence. When parents' achievements affect children's self-confidence, a meritocracy, not necessarily founded on ability, may emerge. Social differences may thus stem from - and maintain - unjustifiable opinions about ability differentials.
Keywords:
- Correction
- Source
- Cite
- Save
- Machine Reading By IdeaReader
9
References
4
Citations
NaN
KQI