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Overconfidence exists in three main types

Overconfidence exists in three main types Overconfidence exists in three main types
Source : Mačka
Perfectly Confident
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Perfectly Confident
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#Confidence
#overconfidence

Throughout this book, we will look [into the manifestations of confidence] and seek to avoid the dangers of delusion or biais (…)

Overestimation occurs, for instance, when you overestimate how quickly you will get work done, committing yourself to more than you can humanly accomplish. One of the lures that can draw you into overestimation is wishful thinking. Its flip side is underestimation. You will be prone to underestimating yourself when you get stuck in worry and rumination, exaggerating risks and failing to appreciate your virtues, strengths, and potential.

Overplacement occurs when you exaggerate the degree to which you are better than others. All of us are prone to overplacement for easy tasks and for common events. Most of us believe we are better-than-average drivers. If you are usually kind, it is easy for you to believe you are kinder than others. If you usually behave ethically, you probably think you are more ethical than others, and you wind up feeling morally superior. On the other hand, for difficult tasks and rare events, it is easy to believe that you are worse than others. When performing a task that's hard for everyone, many people experience the impostor syndrome. ignorance of others' struggles can leave even capable people afraid they cannot do a job as well as others.

Overprecision occurs when you are excessively sure that you know the truth. It leads you to be too confident that your interpretation of the facts is the right one. It leads investors to be excessively sure they know what an investment is worth. It leads you to be too quick to disparage those who disagree with you as either evil or stupid. Unlike estimation and placement, reversals of overprecision are vanishingly rare. That is, research has found little evidence of underprecision, in which people report being less sure of themselves than they ought to be.

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