Self-Confidence and Personal Motivation

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ID: 292034
2002
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Abstract
We analyze the value placed by rational agents on self-confidence, and the strategies employed in its pursuit. Confidence in one's abilities generally enhances motivation, making it a valuable asset for individuals with imperfect willpower. This demand for self-serving beliefs (which can also arise from hedonic or signaling motives) must be weighed against the risks of overconfidence. On the supply side, we develop a model of self-deception through endogenous memory that reconciles the motivated and rational features of human cognition. The resulting intrapersonal game of strategic communication typically leads to multiple equilibria. While "positive thinking" can improve welfare, it can also be self-defeating (and nonetheless pursued).
Reference Key
openalex_W2170641282 Use this key to autocite in the manuscript while using SciMatic Manuscript Manager or Thesis Manager
Authors R. Benabou, J. Tirole
Journal the quarterly journal of economics
Year 2002
DOI
10.1162/003355302760193913
URL
https://academic.oup.com/qje/article-pdf/117/3/871/5446496/117-3-871.pdf
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