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Overconfidence, Compensation Contracts, and Capital Budgeting SIMON GERVAIS, J. B. HEATON, and TERRANCE ODEAN∗ ABSTRACT A risk-averse manager’s overconfidence makes him less conservative. As a result, it is cheaper for firms to motivate him to pursue ...
... A Z I N E O F H AV E R F O R D T H ... 2008 F A L L 2 0 0 8 33 Michael Kiefer Contributing Writers Vice President for ... Haverford College Office of Communications 370 Lancaster Avenue • Haverford, PA 19041 (610) 896-1333 • ©2008 Haverford College By Greg ...
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