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506. The Bright Side of Bias: Understanding Optimism in Decision Making

The Brainy Business | Understanding the Psychology of Why People Buy | Behavioral Economics

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Understanding Optimism Bias

This chapter explores the concept of optimism bias, where individuals tend to overestimate their chances of success while underestimating risks. Through various examples, including personal and professional decision-making, it reveals the psychological mechanisms that fuel this irrational optimism. The discussion highlights the importance of balancing optimism with realistic planning to achieve long-term goals effectively.

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