The Lake Wobegon effect refers to the tendency of people to think that they are above average in some capacity relative to others. The expression comes from Garrison Keillor's assertion that all of the children in the fictional town of Lake Wobegon are above average. This type of thinking is an example of
A) a framing bias.
B) altruism.
C) a sunk cost fallacy.
D) overconfidence.

Question

Quizplus · Accepted Answer

The Lake Wobegon effect is an example of overconfidence, where individuals overestimate their own abilities or qualities, especially in comparison to others. This is reflected in the belief that one is above average, similar to the fictional children of Lake Wobegon.

The Lake Wobegon Effect Refers to the Tendency of People