What is Illusion of Control? [Definition and Example] – Understanding Cognitive Biases

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Timestamps
Intro – 00:00
Definition – 00:02
Example – 00:11
Outro – 00:22

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What is Illusion of control ?

Definition:
The tendency to overestimate oneโ€™s degree of influence over other external events.

Example:
One simple form of this effect is found in casinos: when rolling dice in a craps game people tend to throw harder when they need high numbers and softer for low numbers.

More on mycognitivebiases.com

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What are Cognitive Biases?

A cognitive bias is a systematic error in thinking that occurs when people are processing and interpreting information in the world around them and affects the decisions and judgments that they make.

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What is Illusion of Control? [Definition and Example] – Understanding Cognitive Biases