Overconfidence: When an individual routinely overstates knowledge and is correct less often than he or she expects. For example, when asked to make estimates with a 90% confidence interval, many fewer than 90% of the true answers fall within the estimated ranges. Underconfidence: When an individual routinely understates knowledge and is correct much more often than he or she expects. For example, when asked to make estimates with a 90% confidence interval, many more than 90% of the true answers fall within the estimated ranges.
