Overconfidence can thrive even with detailed, continuous feedback
Overconfidence has been dubbed “the most significant of the cognitive biases”, with research suggesting that it contributes to poor decisions in fields as diverse as medicine, financial investing, political leadership, and management, note the authors of a recent paper in Psychological Science. Various ideas about what causes this bias have been proposed. One theory is that if we don’t receive good objective feedback, it’s hard to make accurate judgements about ourselves. If your partner tells you that you’re really smart — or a wonderful cook, for example, whether that’s true or not, you might well believe them. ….[READ]
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