TY - JOUR
T1 - Fragile Self-Esteem
AU - Koszegi, Botond
AU - Loewenstein, George
AU - Murooka, Takeshi
N1 - Publisher Copyright:
© 2021 The Author(s). Published by Oxford University Press on behalf of The Review of Economic Studies Limited.
PY - 2022/7/1
Y1 - 2022/7/1
N2 - We develop a model of fragile self-esteem - self-esteem that is vulnerable to objectively unjustified swings - and study its implications for choices that depend on, or are aimed at enhancing or protecting, one's self-view. In our framework, a person's self-esteem is determined by sampling his memories of ego-relevant outcomes in a fashion that in turn depends on how he feels about himself, potentially creating multiple fragile "self-esteem personal equilibria."Self-esteem is especially likely to be fragile, as well as unrealistic in either the positive or the negative direction, if being successful is important to the agent. A person with a low self-view might exert less effort when success is more important. An individual with a high self-view, in contrast, might distort his choices to prevent a collapse in self-esteem, with the distortion being greater if his true ability is lower. We discuss the implications of our results for mental well-being, education, job search, workaholism, and aggression.
AB - We develop a model of fragile self-esteem - self-esteem that is vulnerable to objectively unjustified swings - and study its implications for choices that depend on, or are aimed at enhancing or protecting, one's self-view. In our framework, a person's self-esteem is determined by sampling his memories of ego-relevant outcomes in a fashion that in turn depends on how he feels about himself, potentially creating multiple fragile "self-esteem personal equilibria."Self-esteem is especially likely to be fragile, as well as unrealistic in either the positive or the negative direction, if being successful is important to the agent. A person with a low self-view might exert less effort when success is more important. An individual with a high self-view, in contrast, might distort his choices to prevent a collapse in self-esteem, with the distortion being greater if his true ability is lower. We discuss the implications of our results for mental well-being, education, job search, workaholism, and aggression.
KW - Confidence
KW - Impostor syndrome
KW - Insecurity
KW - Memory
KW - Overconfidence
KW - Personal equilibrium
KW - Self-esteem
KW - Self-esteem personal equilibrium
UR - http://www.scopus.com/inward/record.url?scp=85134516321&partnerID=8YFLogxK
U2 - 10.1093/restud/rdab060
DO - 10.1093/restud/rdab060
M3 - Article
AN - SCOPUS:85134516321
SN - 0034-6527
VL - 89
SP - 2026
EP - 2060
JO - Review of Economic Studies
JF - Review of Economic Studies
IS - 4
ER -