Overconfidence occurs when individuals overestimate the accuracy of their own judgment.
Overconfidence is the tendency for individuals to overestimate the accuracy of their own judgment or decision-making ability. It is an example of a cognitive bias and is closely related to the affective bias of optimism. Overconfidence can lead to excessive risk-taking and poor decisions, as well as complacency in the face of uncertainty. Functional fixedness is the cognitive bias that occurs when people are unable to think of an object as having multiple uses. Non-compensatory models of decision-making involve making decisions without considering all available information.
Modeling prototypical behavior is the process of mimicking the behavior of others in order to learn or gain insight into a particular situation. Idealization is the process of forming an unrealistic mental image of a person, process, or object. Mental heuristics are cognitive shortcuts that people use to make judgments and decisions quickly and efficiently.
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