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Put checks in place to curb overconfidence

Be aware of the overconfidence bias and implement checks in crucial areas like personal finances, say, by seeking expert advice or advice from a trusted source

broker, stock market
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Harsh Roongta

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It’s Saturday evening and I am scrambling to finish this article before bedtime. I was confident I would finish it during working hours, but some last-minute calls and eleventh-hour research ensured that this task got prolonged. This happens to me every time I have an important deadline. Despite repeated failures on this count, I somehow continue to remain confident about beating the deadline comfortably each time.

Humans, in general, are overconfident, excessively optimistic, and regard themselves as superior to others. Why do I say this? Ask anyone with a driving licence to rate their driving abilities, and most people will tell