Managerial decision-makings play a significant role in corporate activities. While managers are responsible for their corporate managements, managers’ bias could have an undesirable effect on corporate behavior. In this paper, we attempt to measure the tendency of overconfidence bias, which has been frequently discussed in behavioral economics. As a result of analysis, we could find the evidence of overconfidence in estimating future financial indices, e.g. stock prices and interest rate.
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