The technology bias

newtech

Overconfidence in New Technologies Can Influence Decision-Making

Technological advances in recent decades have transformed most aspects of daily life, and technology now plays a major role in business and society. However, little is known about how perceptions of technology might influence decision-making. Now, University of Missouri researchers have shown that people tend to overestimate the likelihood of new technologies’ success; this overconfidence can influence important decisions, such as investment choices. “Technology has advanced to the extent that people may not understand how a particular technology works, but they do assume that it will work,” said Chris Robert, associate professor of management in the MU Trulaske College of Business. ….[READ]

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