![]() To battle the downfalls of overconfidence when making decisions we should strive to be well calibrated and make sure we are matching our private beliefs to reality. Most frequently the downfalls are associated with bad decisions leading to very bad results (Costa Concordia is a recent case). Academics argue the benefits like Positive Affirmation and belief in oneself allows us to take on tasks that others would not. Luckily all is not lost! Overconfidence in some form is the most common manifestation of Bias. My cognitive dissonance kicked in and I started justifying to myself why this was the case. I am certainly guilty of some (all, if I am honest) of the above behavioral traits.
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