Question

In a recent meeting at​ work, Nick was asked to deliver the sales projections for the next month. Wanting to leave some room for​ error, Nick stated he was 90 percent sure that they could meet the stated sales target for the following month. Nick is exhibiting​ ___________ bias.
A. confirmation
B. escalation of commitment
C. anchor
D. overconfidence
E. availability

Answer 1

Answer:

D. Over Confidence

Explanation:

Overconfidence bias occurs when an individual has more confidence than necessary given the fact. It is the tendency to hold a false and misleading assessments of our skills, intellect, or talent. It is an egoistic belief an individual expresses thinking he's better than he actually is. It's a false sense of their skill or self belief. Areas it's usually expressed is in timing optimism, like the one stated in the question, illusions of control and desirability effects.