Tyson has looked at all of his syllabi and has written in his calendar to begin his term paper five days before it is due in class. In the past, Tyson has never finished a term paper in less than ten days. But this time, he thinks it will be different because he is now smarter and more experienced. Tyson is making what kind of error in thinking?

Question

Quizplus · Accepted Answer

Tyson is making the planning fallacy by underestimating the time and effort required to complete his term paper. Despite his past experience of taking at least ten days to finish a term paper, he thinks he can do it in five days due to overconfidence in his abilities as a result of being smarter and more experienced.

Tyson Has Looked at All of His Syllabi and Has