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The overconfidence effect is a well-established bias in which a person's subjective confidence in their judgments is reliably greater than the objective accuracy of those judgments, especially when confidence is relatively high.
Hindsight bias may lead to overconfidence and malpractice in regards to physicians. Hindsight bias and overconfidence is often attributed to the number of years of experience the physician has. After a procedure, physicians may have a "knew it the whole time" attitude, when in reality they may not have known it.
Hubris (/ ˈ h juː b r ɪ s /; from Ancient Greek ὕβρις (húbris) 'pride, insolence, outrage'), or less frequently hybris (/ ˈ h aɪ b r ɪ s /), [1] describes a personality quality of extreme or excessive pride [2] or dangerous overconfidence and complacency, [3] often in combination with (or synonymous with) arrogance. [4]
Overconfidence is a very serious problem, but you probably think it doesn't affect you. That's the tricky thing with overconfidence: The people who are most overconfident are the ones least likely ...
For example, the mean number of legs per human being is slightly lower than two because some people have fewer than two and almost none have more. Hence experiments usually compare subjects to the median of the peer group, since by definition it is impossible for a majority to exceed the median.
Victory disease occurs in military history when complacency or arrogance, brought on by a victory or a series of victories, makes an engagement end disastrously for a commander and his forces. [1] A commander may disdain the enemy, and believe his own invincibility, leading his troops to disaster.
Retirement mistake #1 is being overconfident in your investing skills. This is a big one, and it applies particularly to men. The traditional "hunters" believe they are much better investors than ...
Confirmation biases contribute to overconfidence in personal beliefs and can maintain or strengthen beliefs in the face of contrary evidence. Poor decisions due to these biases have been found in political and organizational contexts.