The Profit Effect Of Overconfident College Students In The Game Tasks

When our judgement and decision are studied with the theory of classical economics,the most common and consistent finding is the overconfidence tendency which generally exists in people.Although overconfidence belongs to the irrational factor,it also has the adaptability function,for the individual can enhance the adaptability to the society with the help of perceiving all his own illusions that his good qualities outweigh other people's qualities,while his bad qualities are less than other people's qualities.Self-deceit,as a kind of mechanism of signal display,is easily discovered and makes the individual raise the anticipation for profit and adaptability.People's decisions are always built on the basis of the relevant information which can be searched,processed(Feldman,1988),therefore,as the decision appears between people,the game task appears,too.The classical investment game task as a tool which can research into the profit is employed by this paper.As the literature pointed out that the incompleteness of the information could result in the loss of economic efficiency,this paper used the complete information and the incomplete information as the key variable to study.Meanwhile,the static and motional investment game models were employed under the situation of virtual reality investment to probe the profit of university students when they appeared overconfident.This paper introduced the information type into the experiment.Under two different situations,the static situation and the motional situation,this paper looked into the profit difference of the subjects who belonged to different overconfidence types in the investment task,explored the investment influence of overconfidence and the types of information in the different game task state.The further study also contributed to understand the profit preference of university students who were in different overconfident levels.It is of great significance for the theory and practice.The pre-experiment employed the single factor random design to test the existence of overconfidence.The No.l experiment used the investment game model under the static situation to explore the profit influence of the investment game task in different overconfidence state and the different information type state.The No.2 experiment employed the investment game model under the motional situation to explore the profit influence of the investment game task in different overconfidence state and the different information type state.The study results as follow:(1)The pre-experiment verified,under the positive condition,the subjects would steadily appear the feature of overconfidence,while under the negative condition,the subjects would appear the feature of non-overconfidence.(2)Under the static situation,the profit of the overconfident subjects exceeded the profit of non-overconfident subjects.But under the different information type,there was no profit diffrence.(3)Under the motional situation,the profit of the overconfident subjects exceeded the profit of non-overconfident subjects with the different types of information.