A new study suggests that overconfidence can persist even in situations where people receive frequent and accurate feedback about their performance. The findings, published in The Journal of Occupational and Organizational Psychology, raise questions about how effectively feedback mechanisms improve self-awareness in professional settings. Researchers analysed data from 3,388 competitive chess players across 22 countries. Chess provides a clear test of confidence and self-assessment because performance is tracked continuously through the Elo rating system, which adjusts after every match. Players have access to detailed, objective feedback, allowing them to compare their results with others and track progress over time. (more…)

Managers are less rational and more influenced in their decision making by emotions than they think, according to a new poll. The study, The empathy problem: Balancing emotion in decision-making, part of the Building Better Managers series [registration], surveyed 279 people leaders across eight countries and 51 industries, with qualitative interviews assessing how emotions and biases impact workplace choices. While four in five managers reported making decisions without emotional influence, almost all shared personal stories during interviews that indicated the opposite. This gap reflects the unconscious nature of decision making, according to the report. It suggests that, while humans see themselves as rational thinkers, many of our choices are instinctively fast, intuitive and emotionally driven. (more…)