A(n)________ occurs when decision makers think they know more than they do or hold unrealistically positive views of themselves and their performance.
A)anchoring effect
B)confirmation bias
C)overconfidence bias
D)sunk costs error
E)self-serving bias

Question

Quizplus · Accepted Answer

Overconfidence bias is the belief that individuals have in their own abilities and knowledge that is greater than the objective accuracy of those abilities and knowledge. This bias can lead to poor decision-making, as individuals may make decisions based on unrealistic expectations or incomplete information.

A(n)________ Occurs When Decision Makers Think They Know More Than