Those fresh-faced, freshly minted millionaires are now paying the price for that overconfidence.
It seems like overconfidence is one of the big targets of Thinking, Fast and Slow.
Anderson pointed out that despite the dangers of overconfidence, it does makes some sense to follow confident people in general.
One reason is what psychologists call the overconfidence effect, which is a polite term for arrogance.
The trouble comes from overconfidence in their effectiveness.
We know, however, that nothing is as dangerous as overconfidence, in war or in peace.
Neglect of this or overconfidence has caused many disasters.
Confidence is a necessary thing in billiards, but overconfidence is bad.
Nettled, and alarmed at what appeared to be their overconfidence, Gaylor objected warmly.
And the Terran read into that the overconfidence which he believed would be part of the enemy's character.