ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Optimism Is Healthy It turns out that an optimistic attitude helps us be happier, more successful, and healthier. Optimism can protect against depression-even for people who are at risk for it. An optimistic outlook makes people more resistant to stress. Optimism may even help people live longer.

Detailed explanation-2: -The PPP Decision-Value for Money Optimism bias is the observed tendency for the public sector to be over-optimistic about outcomes both in time and cost leading, for example, to substantial cost overruns compared to the original projections (cf. §28.6. 1).

Detailed explanation-3: -Economics research shows that optimism correlates with greater success, a better outlook on the macroeconomy as a whole, and greater expectation of future income growth and years of remaining work. Optimists tend to thrive with competition and are more likely to start businesses.

Detailed explanation-4: -Research shows that optimists are more likely to persevere even in the face of difficulty. In other words, when faced with huge world problems, optimists are both more psychologically resilient and more likely to embark on projects to help the world. It’s better for the world and for yourself if you are an optimist.