________ occurs when people's subjective confidence in their decision-making is greater than their objective accuracy. For example, Penelope thinks she is a superb writer and editor, but her reports are always filled with typos, grammatical errors, and sentence fragments.
A) Confidence bias
B) Overconfidence bias
C) Hindsight bias
D) Predisposition bias
E) The tunnel vision effect

Question

Quizplus · Accepted Answer

Overconfidence bias is the bias in which people's subjective confidence in their decision-making is greater than their objective accuracy. For instance, with experienced investment advisers whose financial outcomes simply depended on luck, behavioral psychologist Daniel Kahneman found "the illusion of skill is not only an individual aberration; it is deeply ingrained in the culture of the industry."

________ Occurs When People's Subjective Confidence in Their Decision-Making Is