illusion of control bias
Definition
Tendencies of the human race, both individuals and groups, to believe they have the power and influence to make changes to events beyond their control. This kind of influence may include random events and situations like effectively rolling dice at the gambling tables and choosing the winning lottery numbers.
Related Articles
- Fees and Expenses *
- Kids and Money: Tackling the Various Issues *
- What is a Sole Proprietorship? *
- The Federal Reserve Board of Governors *
- The CANSLIM Stock Strategy *
- Which High Return Investment Is Right For Your Retirement Savings? *
- Introduction to Commodities *
- Creating the Family Budget *
Related Videos
http://www.businessdictionary.com/definition/illusion-of-control-bias.html
