A source of cognitive bias resulting from the tendency to overestimate one's own ability to control activities and events is known as:
A)illusion of control and overconfidence bias
B)systematic errors
C)representative bias
D)fundamental attribution error
E)escalating commitment

Question

Quizplus · Accepted Answer

The source of cognitive bias described in the question is illusion of control and overconfidence bias. The illusion of control refers to the tendency to believe that one has more control over outcomes than is actually the case, while overconfidence bias refers to the tendency to overestimate one's abilities and the accuracy of one's beliefs and predictions. These biases can lead to poor decision-making and risky behavior.

A Source of Cognitive Bias Resulting from the Tendency to Overestimate