2IntroductionOverconfidence is not just a fundamental psychological trait rather it can be considered as awell-established bias. In this case the subjective confidence of a person seems to be reliablyhigher than the objective accuracy of their judgements. However, there are other definitions ofoverconfidence as well. Author defines overconfidence as the overestimation of a person’s actualperformance or over precision in depicting the unwarranted certainty regarding the accuracy ofthe beliefs of a person. The emergence of overconfidence and its impact over the decisionmaking processes has widely been discussed. Extensive research works have been conducted onthe basis of the impact of overconfidence in the context of financial, business or corporatedecision making. More specifically overconfidence can be considered as the behavioural biaswhich is most willingly researched by the academicians who are working in the field ofeconomics. In other words the “better than the average effect” which is simply the tendency ofindividuals to overestimate their expertise and capabilities relative to a reference group gives riseto direct likelihoods in the context of decision making. This assignment will solely focus onanalysing three relevant journal articles which are broadly based on the impact of overconfidenceon decision making. Primarily it will present summary of the three articles followed by a detailedanalysis of those individual articles. Finally each of the articles will be compared and contrastedwith respect to the other, for instance their similarities or difference will be discussed.Afterwards a discussion section will be there where the relevant understanding developedthrough reading these papers will be discussed and then certain recommendations will beprovided. Article SummaryThis paper considers overconfidence as an effect which is named as “better than average effect”and this compels people to assume that believe that their skills and capabilities are over andabove the average level. The paper will focus on developing an experimental paradigm throughwhich a distinction could be made between the two potentially possible clarifications for theeffect; these are specifically overconfidence and rational information processing [ CITATIONMer11 \l 1033 ]. In order to do so an experiment has been conducted. The participants of theexperiment were asked to enumerate their relative position within the populace through stating

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