Date of Publication

9-18-2023

Document Type

Bachelor's Thesis

Degree Name

Bachelor of Science in Applied Economics major in Financial Economics

Subject Categories

Finance and Financial Management

College

School of Economics

Department/Unit

Economics

Honor/Award

Outstanding Undergraduate Thesis Award

Thesis Advisor

Gerardo Largoza
Lawrence Dacuycuy
Maria Fe Carmen Dabbay

Defense Panel Chair

Gerardo Largoza

Defense Panel Member

Lawrence Dacuycuy
Maria Fe Carmen Dabbay

Abstract/Summary

There is longstanding literature on the theoretical basis of self-confidence having motivational value, such that it increases one's desire to exert effort. However, there has been little research to establish empirical evidence to validate this theory in controlled experiments, and there has yet to be any done outside these controlled settings. Our research advances literature on the topic of confidence, motivation, and effort by developing and conducting an online experiment under natural settings on a sample of 85 randomly selected participants to confirm both the role of confidence in motivating effort, and the role of information shaping and influencing confidence, and by extension effort. Our findings prove that there is a causal relationship between confidence and effort, confirming the theory of the motivational value of confidence, and that information on personal ability has a corrective effect on overconfidence which also negatively impacts the motivation to exert effort. Unexpectedly, it was also found that Gender has a role in shaping confidence and, indirectly, effort, as female participants reported significantly higher levels of confidence than male participants, which consequently reflected on their greater effort level.

Abstract Format

html

Language

English

Format

Electronic

Keywords

Financial literacy—Philippines; Self-confidence—Economic aspects

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Embargo Period

9-18-2023

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