Pride before the fall: (Over)confidence predicts escalation of public commitment

R. Ronay*, Janneke Oostrom, N. Lehmann-Willenbrock, M. Van Vugt

*Corresponding author for this work

Research output: Contribution to journalArticleScientificpeer-review

17 Citations (Scopus)

Abstract

In four studies we examined the effect of overconfidence on escalation of commitment in investment tasks. Study 1 (N = 105) revealed a positive relationship between overconfidence and decisions to escalate. In contrast, Study 2 (N = 121) showed that overconfidence was negatively related to escalation of commitment. The reversal of this effect appeared to emerge as a function of the public (Study 1) versus private (Study 2) context in which the investment decisions were made. In Study 3 (N = 108) and Study 4 (N = 380) we experimentally replicated this pattern of findings and found support for the explanatory role of reputational concerns. A meta-analysis of the findings from our four studies showed that overconfidence is positively related to escalation of commitment in public contexts, and that this relationship is absent when decisions are made privately.
Original languageEnglish
Pages (from-to)13-22
JournalJournal of Experimental Social Psychology
Volume69
DOIs
Publication statusPublished - 2017
Externally publishedYes

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