Which of the following best describes overconfidence bias?
A)the tendency to judge the probability of an event based on how easily examples come to mind
B)the tendency to choose information that supports our existing position and ignore conflicting evidence
C)a tendency to overestimate the time it will take to complete a task
D)the act of having more faith in our own estimates than is realistically justified

Question

Quizplus · Accepted Answer

Overconfidence bias is the tendency to have more faith in our own estimates than is realistically justified, which may cause us to underestimate the chance of negative outcomes or overestimate our own abilities.

Which of the Following Best Describes Overconfidence Bias