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Topic map / Judgment, prioritization and learning

Forecasts and confidence

Pass 2

Keep a hopeful story, a sharp number, and skill in different lines.

The Bocconi record of Camuffo and colleagues describes training in a scientific habit across four trials and 759 firms, with a positive impact on terminating an idea. It is about that training. It is not a personality test and not a profit guarantee.

Kraft, Günther, Kammerlander, and Lampe published a 2022 meta-analysis on types of overconfidence in the entrepreneurial process. The journal page blocked an automated check, so this site does not restate effect sizes. A separate meta-analysis of CEO overconfidence and firm performance returned 403 and is not used. Founder studies and CEO studies are different literatures. Do not collapse them, and do not read either unread paper as a rule that confidence helps or hurts.

The log asks for the forecast, the confidence you would state out loud, the evidence that would move it, and the date you will compare it with what happened. Optimism, a number that looks more precise than the evidence, and competence stay in separate sentences.

Question. How should you record forecasts and revisit confidence without confusing optimism, precision, and competence?

I have already signed, paid or lost access if the commitment is no longer only a plan.

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