According to a large number of literatures, everyone is overconfident in himself, overestimates his ability in all aspects, and thinks he is stronger than he is actually. Overconfidence effect mainly refers to a phenomenon that individuals overestimate their own ability. Let's learn more about it with this website. What is overconfidence effect
Overconfidence effect is similar to dunin Kruger effect, but it is not exactly the same. Cognitive bias exists in many people. People often do not have a comprehensive understanding of themselves, and many overestimate their actual ability. It is difficult for human beings to maintain rationality, which often affects people's judgment for various reasons.
What is the overconfidence effect of investors
In addition, psychologists have found through research that there are many special areas, often with a serious degree of overconfidence. For example, some surgeons, nurses, psychologists and so on may feel overconfident when facing difficult decisions, but they may feel a little unsure when answering simple questions.
What are the manifestations of overconfidence effect
Psychologists have found that many people overestimate their abilities, and eventually this overconfidence will increase with their importance. Many people will be optimistic about the future and expect good things to happen to themselves. They may even have a great sense of optimism about accidental events. It's like hoping to win the lottery.
People with serious overconfidence may highly exaggerate their importance and think that their prediction is more accurate. If they predict a certain result, they may overestimate their role in the process when it is finally consistent with their prediction. Many successful people will think that their personal success benefits from their accurate knowledge and strong personal ability.
When overconfident people make decisions, they may highlight some points that can be noticed, and they will also look for the same opinions as themselves, and tend to be more inclined to this aspect.
Everyone may have a tendency of overconfidence, but the degree is also different due to different living environment. Confidence is a good thing, but sometimes don't go beyond this degree to avoid anything bad.