A new study explores the differences in confidence judgments between experts and nonexperts in various fields.However, while experts are good at recognizing their correctness, they are less aware of their errors.Confucius: “To say you know when you know, and to say you do not when you do not. That is knowledge.
Other experts have to deal with outcomes that are much more difficult to predict. Take the expertise of finance professionals, for example. Movements of financial markets are notoriously uncertain and stock prices are extremely difficult to forecast. One study found that experts werestock prices better than chance.
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