Truth 55. Judging Others: Tips for Making Better Decisions
The performance-review process requires a large component of decision making. We’ve learned over the years that decision judgments are fraught with biases. In this section, we want to alert you to several judgmental distortions that we’re all vulnerable to and offer some advice on how you can minimize those distortions.
Decision judgments are fraught with biases.
Overconfidence bias. When we’re given factual questions and asked to judge the probability that our answers are correct, we tend to be far too optimistic. For instance, studies have found that, when people say they’re 65 percent to 70 percent confident that they’re right, they are actually correct only about 50 percent of the ...
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