RESEARCH METHODS THINKING CRITICALLY WITH PSYCHOLOGICAL SCIENCE
THE NEED FOR PSYCHOLOGICAL SCIENCE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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the placebo effect
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illusory correlation
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overconfidence
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the false consensus effect
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Detailed explanation-1: -The overconfidence effect is a well-established bias in which a person’s subjective confidence in his or her judgments is reliably greater than the objective accuracy of those judgments, especially when confidence is relatively high.
Detailed explanation-2: -Overconfidence influences our decisions and judgments by making us overestimate the accuracy of our decisions and judgments. Belief perseverance influences our decisions and judgments by making us tend to believe our beliefs even when evidence contradicts them.
Detailed explanation-3: -Overconfidence bias is the tendency for a person to overestimate their abilities. It may lead a person to think they’re a better-than-average driver or an expert investor. Overconfidence bias may lead clients to make risky investments.
Detailed explanation-4: -An example of this is where people overestimate how quickly they can do work and underestimate how long it takes them to get things done. Especially for complicated tasks, business people constantly underestimate how long a project will take to complete.