The tendency of decision makers to overestimate their ability is known as representativeness bias.

Name: The tendency of decision makers to overestimate their ability is known as representativeness bias.
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Representativeness bias refers to the tendency to judge the probability of an event by how much it resembles a typical case, not overestimating one's ability. Overestimating one's ability is known as overconfidence bias.

The Tendency of Decision Makers to Overestimate Their Ability Is