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One manifestation of the overconfidence effect is the tendency to overestimate one's standing on a dimension of judgment or performance. This subsection of overconfidence focuses on the certainty one feels in their own ability, performance, level of control, or chance of success.
Image credits: resonanttop Instead of immediately telling someone they’re wrong, Dr. Gerharz recommends instead trying, “That’s interesting—I’ve always heard it differently.
There are plenty of examples of overly confident experts leading followers astray. Think back to the 1998 implosion of Long-Term Capital Management , a hedge fund run by several Nobel Prize winners.
Illusory superiority has been found in individuals' comparisons of themselves with others in a variety of aspects of life, including performance in academic circumstances (such as class performance, exams and overall intelligence), in working environments (for example in job performance), and in social settings (for example in estimating one's ...
However it can be detrimental in the planning phase since the agent may ignore bad odds, take unnecessary risks, or fail to prepare for contingencies. For example, being overconfident may be advantageous for a general on the day of battle because of the additional inspiration passed on to his troops.
She adds that using the word “should” can unwittingly lead to feelings of shame, as if they should have already known and done better. Dr. Danda points to one alternative: “I have some ideas ...
SNAFU is an acronym that is widely used to stand for the sarcastic expression Situation normal: all fucked up. It is a well-known example of military acronym slang. It is sometimes censored to "all fouled up" or similar. [1] It means that the situation is bad, but that this is a normal state of affairs.
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