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Optimistic Probability Bias

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Sometimes you may want something to be true so badly that you fool yourself into thinking it is likely to be true. This feeling is known as optimistic probability bias, because you are too optimistic about the probability of success. NASA managers were way too optimistic about the probability of success, whereas the engineers who were closer to the analysis were much more on target.

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Chapter:

Being Wrong Less

Section:

Don't Trust Your Gut

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Inverse Thinking
Unforced Error
Antifragile
Arguing From First Principles
De-risking
Minimum Viable Product (MVP)
Premature Optimization
Ockham's Razor
Conjunction Fallacy
Overfitting
Frame of Reference
Framing
Nudging
Anchoring
Availability Bias
Filter bubble
Echo Chambers
Third story
Most Respectful Interpretation
Hanlon's Razor
Fundamental Attribution Error
Self-Serving Bias
Veil of Ignorance
Birth Lottery
Just World Hypothesis
Victim-Blame
Learned Helplessness
Paradigm Shift
Semmelweis Reflex
Confirmation Bias
Backfire Effect
Disconfirmation Bias
Cognitive Dissonance
Thinking Gray
Devil's Advocate Position
Intuition
Postmortem
Proximate Cause
Root Cause
5 Whys
Optimistic Probability Bias
Tyranny of Small Decisions
Tragedy of Commons
Spillover Effects
Public Goods
Herd Immunity
Free Rider Problem
Externalities
Coase Theorem
Cap-and-Trade
Moral Hazard
Principal-Agent Problem
Asymmetric Information
Adverse Selection
Market Failure
Goodhart's Law
Perverse Incentives
Cobra Effect
Streisand Effect
Hydra Effect
Observer Effect
Chilling Effect
Collateral Damage
Blowback
Boiling Frog
Short-termism
Technical Debt
Path Dependence
Preserving Optionality
Precautionary Principle
Information Overload
Analysis Paralysis
Perfect Is The Enemy of Good
Reversible Decisions
Hick's Law
Paradox of Choice
Decision Fatigue
Murphy's Law