Stanislas Augier

Université Grenoble Alpes

Objective. This study aims to connect two strands of the psychology and economics literature, i.e., behavioural finance and agent-based macroeconomics, to assess the impact of managerial overconfidence at the micro and macro levels of the economy as a whole. Method. We build a macroeconomic stock-flow consistent agent-based model that is calibrate...

In this study we build a macroeconomic agent-based model that is calibrated for the specific case of Poland to explore whether the overconfidence of top corporate managers in the context of their initial public offering (IPO) decisions is detrimental for the firms being managed in this way, the financial market dynamics, and the selected macroecono...