Overconfidence and Public Intoxication Arrest: Evidence from a University Town Police Log-Reference-Cited by-同舟云学术

Overconfidence and Public Intoxication Arrest: Evidence from a University Town Police Log

Published:2022-12-16 Issue:2 Volume:23 Page:293-322
ISSN:1935-1682
Container-title:The B.E. Journal of Economic Analysis & Policy
language:en
Short-container-title:

Author:

Hoffman Elizabeth¹,Kim Younjun²

Affiliation:

1. Professor of Economics , Iowa State University , Ames , IA , USA

2. Associate Professor of Economics , Southern Connecticut State University , New Haven , CT , USA

Abstract

Abstract We show that overconfident individuals are likely to be arrested for public intoxication by using arrest records from a university town police log. This relationship is robust to various control variables such as risk aversion, time discounting, present bias, self-control, selfishness, loss aversion, and socializing with peers arrested for public intoxication. However, this relationship is no longer significant using only self-reported arrest data. We hypothesize that overconfident individuals are likely to underreport their arrests. This result has important implications for the use of self-reported data on public intoxication arrests rather than actual arrest records.

Funder

University of Nebraska-Lincoln

Publisher

Walter de Gruyter GmbH

Subject

Economics, Econometrics and Finance (miscellaneous),Economics and Econometrics

Link

https://www.degruyter.com/document/doi/10.1515/bejeap-2022-0060/pdf

Reference60 articles.

1. Ameriks, J., A. Caplin, and J. Leahy. 2003. “Wealth Accumulation and the Propensity to Plan.” Quarterly Journal of Economics 118 (3): 1007–47. https://doi.org/10.1162/00335530360698487.

2. Anderson, L. R., and J. M. Mellor. 2008. “Predicting Health Behaviors with an Experimental Measure of Risk Preference.” Journal of Health Economics 27 (5): 1260–74. https://doi.org/10.1016/j.jhealeco.2008.05.011.

3. Banerjee, A., E. Duflo, D. Keniston, and N. Singh. 2019. “The Efficient Deployment of Police Resources: Theory and New Evidence from a Randomized Drunk Driving Crackdown in India.” In NBER Working Paper No. 26224.

4. Barberis, N. C. 2013. “Thirty Years of Prospect Theory in Economics: A Review and Assessment.” The Journal of Economic Perspectives 27 (1): 173–96. https://doi.org/10.1257/jep.27.1.173.

5. Bénabou, R., and J. Tirole. 2002. “Self-Confidence and Personal Motivation.” Quarterly Journal of Economics 117 (3): 871–915. https://doi.org/10.1162/003355302760193913.