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the chance of a foul consequence (March and Shapira 1987; Langer 1975). Second, private commitment will increase the incidence of overconfidence . As a quick search in ExecuComp for the choice and stock packages of the top four to nine executives of publicly traded firms reveals, a huge portion of their compensation—and presumably of the wealth of lots of them—depends on how well the company is doing. Moreover, the worth of their human capital is tightly related firm returns. If the corporate is underperforming, that is dangerous news for their prospects of maintaining their job and reduces their exterior choices. Thus, for compensation and profession causes alone, we would expect high executives to be highly dedicated to the result of their investment, 22 The term “overoptimism” is typically used to refer to the overestimation of 1’s own abilities as Hot version saint patricks day the celtic cross flag of Ireland full printing shirtproperly. The labeling advised above follows the literature on self-serving attribution and permits us to distinguish the overestimation of 1’s own skills and outcomes relating to one’s own personal scenario from the overall overestimation of exogenous outcomes (corresponding to the expansion of the U.S. economic system). If a agency can create a sense amongst workers that they are like a species—with immutable special properties which might

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