“…Expectations move closer to the realized grade as students receive new information on their actual performance closer to the exam. Many other papers reject the hypothesis of rational expectations and confirm student grade overconfidence; see Kruger and Dunning ( 1999 ), Svanum and Bigatti ( 2006 ), Andrews et al ( 2007 ), Burns ( 2007 ), Jensen and Moore ( 2008 ), Khachikian et al ( 2011 ), Hossain and Tsigaris ( 2013 ), Feld et al ( 2017 ), Foster et al ( 2017 ), Serra and DeMarree ( 2016 ), and Sturges et al ( 2016 ).…”