The tendency to exaggerate the correctness or accuracy of our beliefs and predictions is called Overconfidence.
The overconfidence effect is a properly-mounted bias wherein a person's subjective self-belief in his or her judgments is reliably greater than the goal accuracy of those judgments, mainly while confidence is relatively high.
Overconfidence is one example of a miscalibration of subjective chances. throughout the studies literature, overconfidence has been described in 3 distinct ways: overestimation of one's actual overall performance; over the placement of 1's overall performance relative to others; and overprecision in expressing unwarranted truth in the accuracy of one's beliefs.
The most common manner in which overconfidence has been studied is with the aid of asking people how assured they are of unique beliefs they hold or solutions they offer. The records show that self-belief systematically exceeds accuracy, implying people are extra sure that they are correct then they should be. If human self-belief had perfect calibration, judgments with one hundred% self-assurance might be accurate 100% of the time, ninety% confidence correct 90% of the time, and so forth for the other tiers of confidence.
Learn more about self-belief here: https://brainly.com/question/333719
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