Many investment advisors attribute their successful outcomes to skill, even when it is more likely luck, which is an example of which bias?
A)Overconfidence.
B)Escalation of commitment bias.
C)Hindsight.
D)Availability.
E)Framing.

Question

Quizplus · Accepted Answer

The 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 advisors 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."

Many Investment Advisors Attribute Their Successful Outcomes to Skill, Even