Table 8.

OLS regression of under/over-confidence on actual earnings.

	Both Genders		Women		Men
	I	II	I	II	I	II
Exceeded Expectations	8.750***	7.573***	7.774***	7.229***	8.851***	7.312***
	(0.76)	(0.73)	(1.01)	(0.93)	(1.21)	(1.26)
Correct Expectations	4.461***	4.512***	3.869***	3.249***	5.549***	7.453***
	(0.52)	(0.76)	(1.26)	(0.92)	(1.56)	(1.86)
Gender: Male = 1	3.282***	1.865**	–	–	–	–
	(1.08)	(0.91)	–	–	–	–
Familiarity with task		3.209**		2.416*		3.550***
		1.06		(1.35)		(1.26)
Math degree		3.560***		1.227		5.026***
		(0.98)		(1.70)		1.10
Risk attitude index		−0.2		−0.053		−0.577*
		(0.22)		(0.21)		(0.33)
Self-efficacy		0.285***		0.242**		0.261
		(0.06)		(0.09)		(0.18)
Average digit ratio		10.32		13.36		4.91
		(11.21)		(15.95)		(14.67)
Observations	247	244	128	128	119	116

Exceeded expectations is a dummy variable that takes value 1 if Expectations < Actual Performance and zero otherwise. Correct expectations is a dummy variable that takes value 1 if Expectations = Actual Performance and zero otherwise. The benchmark variable for comparison is unreached expectations or overconfidence (i.e., if Expectations >Actual Performance). The dependent variable is final experimental earnings measured in GBP. All regressions include sessions fixed effects and robust standard errors clustered by session are reported in brackets.

^***significant at 1%,

^**significant at 5%,

^*significant at 10%.