Abstract (may include machine translation)
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.
| Original language | English |
|---|---|
| Pages (from-to) | 2026-2060 |
| Number of pages | 35 |
| Journal | Review of Economic Studies |
| Volume | 89 |
| Issue number | 4 |
| DOIs | |
| State | Published - 1 Jul 2022 |
Keywords
- Confidence
- Impostor syndrome
- Insecurity
- Memory
- Overconfidence
- Personal equilibrium
- Self-esteem
- Self-esteem personal equilibrium