Q

What is the illusion of control in risk assessment?

From 5 years of verified research · Vassili Sandqvist
A

The illusion of control refers to the tendency of individuals to believe they have more influence over events than they actually do. This cognitive bias can lead people to underestimate risks in situations where they feel they have control, such as driving a car, while overestimating risks in situations perceived as uncontrollable, like natural disasters. This misperception can skew decision-making processes, causing individuals to take unnecessary risks or avoid beneficial opportunities based on flawed assessments of their control over outcomes.

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