Overconfidence bias occurs when decision-makers overestimate their knowledge, skills, or ability to predict outcomes, which can lead to excessive risk-taking such as over-trading or committing to overly ambitious projects without adequate contingency planning.

Authors

• Person: Not available Organization: CAUL
  Topic 2: The Risk and Return Trade Off in Financial Decision Making

Sources

• Topic 2: The Risk and Return Trade Off in Financial Decision Making oercollective.caul.edu.au CAUL via serper

Referenced by nodes (1)

• overconfidence bias concept