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Showing 187 biases.

Need To Act Fast

To act, we must be confident we can make an impact and feel what we do is important

Overconfidence effect

Description

A well-established bias in which a person's subjective confidence in their judgments is reliably greater than the objective accuracy of those judgments.

Example 1:

An entrepreneur is overly confident about their new business idea's success, leading them to underestimate risks and overinvest personal finances without adequate market validation.

Example 2:

An entrepreneur might be overly confident in the success of their new venture, leading them to underestimate risks, overspend, and ignore critical feedback.