illusion of knowledge

is at the root of overoptimism and overconfidence.

'Overoptimism and overconfidence tend to stem from the illusion of control and the illusion of knowledge.' (Montier 2007, p. 20)

is the tendency for people to believe that the accuracy of their forecasts increases with more information.

'The illusion of knowledge is the tendency for people to believe that the accuracy of their forecasts increases with more information.' (Montier 2007, p. 20)

is the tendency to make a stronger inference than warranted by the data.

'Illusion of knowledge: Barber and Ocean (2001) presents a discussion of the literature on the tendency to make a stronger inference than warranted by the data, which they call 'Illusion of Knowledge.''

illusion of knowledge, n.Definitions

illusion of knowledge