When decision makers tend to think they know more than they do or hold unrealistically positive views of themselves and their performance, they are exhibiting ___________.
A) the anchoring effect
B) overconfidence bias
C) self- serving bias
D) immediate gratification bias

Question

Quizplus · Accepted Answer

Overconfidence bias refers to the tendency of decision makers to have an unwarranted sense of confidence and belief in their own abilities and judgments, and to underestimate the likelihood of negative outcomes. It can lead to poor decision making and a failure to consider important information or alternative perspectives.

When Decision Makers Tend to Think They Know More Than