After taking two years of economics courses,Lionel thinks he knows enough about business to become a multimillionaire.Lionel should become more aware ofL

Question

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Lionel's overconfidence in his knowledge about business after just two years of study is a classic example of overconfidence bias. This bias occurs when individuals overestimate their abilities, knowledge, or performance in a particular area, leading them to take risks or make decisions they may not be qualified to make. It is important for Lionel to recognize his limitations and continue learning and gaining experience in the business world.

After Taking Two Years of Economics Courses,Lionel Thinks He Knows