In this article, I argue that access internalism should replace preservationism, which has been called “a received view” in the epistemology of memory, as the standard position about memorial justification. My strategy for doing so is two-pronged. First, I argue that the considerations which motivate preservationism also support access internalism. Preservationism is mainly motivated by its ability to answer the explanatory challenges posed by the problem of stored belief and the problem of forgotten evidence. However, as I will demonstrate, access (...) internalism also has the resources to provide plausible solutions to those problems. Second, I argue that preservationism faces a couple of problems which access internalism avoids. Doing so, I present a new scenario which, on the one hand, functions as a counterexample to preservationism, and, on the other hand, provides intuitive support for access internalism. Moreover, I also demonstrate how preservationism, in light of recent research in cognitive psychology, is vulnerable to skepticism about memorial justification, whereas access internalism remains unthreatened. (shrink)

This study investigated the impact of investor psychological bias on a firm’s market value. In detail, we examined the effect of investor overconfidence (optimism) and loss aversion (pessimism) on firm market value. We also aimed to investigate the moderating effect of corporate governance on the relationship between investor behavior biases and firm market value. This study used a sample of 143 firms listed on the Saudi Stock Exchange over the period from 2012 to 2021. The results suggest that investor (...) overconfidence affects a firm’s value positively. On the other hand, loss aversion is negatively associated with the firm’s market value. Furthermore, we find that corporate governance (measured by board size and board independence) enhances the positive association between overconfidence and firm market value. In contrast, we find that corporate governance seems to marginally mitigate the negative effect of loss aversion. (shrink)

In the present study it was shown that decision heuristics and confidence judgements play important roles in the building of preferences. Based on a dual-process account of thinking, the study compared people who did well versus poorly on a series of decision heuristics and overconfidence judgement tasks. The two groups were found to differ with regard to their information search behaviour in introduced multiattribute choice tasks. High performers on the judgemental tasks were less influenced in their decision processes by (...) numerical information format (probabilities vs. frequencies) compared to low performers. They also looked at more attributes and spent more time on the multiattribute choice tasks. The results reveal that performance on decision heuristics and overconfidence tasks has a bearing both on heuristic and analytic processes in multiattribute decision making. (shrink)

Do people tend to be overconfident? Many think so. They’ve run studies on whether people are calibrated: whether their average confidence in their opinions matches the proportion of those opinions that are true. Under certain conditions, people are systematically ‘over-calibrated’—for example, of the opinions they’re 80% confident in, only 60% are true. From this empirical over-calibration, it’s inferred that people are irrationally overconfident. My question: When and why is this inference warranted? Answering it requires articulating a general connection between being (...) rational and being right—something extant studies have not done. I show how to do so using the notion of deference. This provides a theoretical foundation for calibration research, but also reveals a flaw: the connection between being rational and being right is much weaker than is standardly assumed, since rational people can often be expected to be miscalibrated. Thus we can’t test whether people are overconfident by simply testing whether they are over-calibrated; instead, we must try to predict the rational deviations from calibration, and then compare those predictions to people’s performance. I show how this can be done—and that doing so complicates the interpretation of robust empirical effects. (shrink)

The demarcation of pseudoscience has been one of the most important philosophical tasks since the 1960s. During the 1980s, an atmosphere of defeatism started to spread among philosophers of science, some of them claimed the failure of the demarcation project. I defend that the more auspicious approach to the problem might be through the intellectual character of epistemic agents, i.e., from the point of view of vice epistemology. Unfortunately, common lists of undesirable character features are usually based on a priori (...) reasoning, and therefore might be considered artificial or too vague. When we base our position on contemporary behavioural sciences, we can see that the epistemic character of believers in pseudoscience is for the most part determined by two related factors. Firstly, these epistemic agents show a higher level of cognitive laziness. By this I mean an inability or unwillingness to engage in reflective thinking and a reluctance to account for counterevidence. Secondly, they yield more easily to metacognitive overconfidence. This can be broadly understood as so-called “knowledge illusion”, the inability to recognize one’s own intellectual limits. The deficiency usually stems from a misunderstanding of the division of cognitive labour and of the agent’s role in epistemic society. I find the proposed epistemological approach to pseudoscience crucial. Only if we understand the descriptive aspects of the problem, can we think of normative solutions to it. (shrink)

Overconfidence is typically damaging to one’s reputation as a trustworthy source of information. Previous research shows that the reputational cost associated with conveying a piece of false information is higher for confident than unconfident speakers. When judging speaker trustworthiness, individuals do not exclusively rely on past accuracy but consider the extent to which speakers expressed a degree of confidence that matched the accuracy of their claims (their “confidence-accuracy calibration”). The present study experimentally examines the interplay between confidence, accuracy and (...) a third factor, namely evidence, in the assessment of speaker trustworthiness. Experiment 1 probes the hypothesis that overconfidence does not backfire when a confident but inaccurate claim is justified: the trustworthiness of a confident speaker who turns out to be wrong is restored if the confidence expressed is based on strong evidence (good confidence-evidence calibration). Experiment 2 investigates the hypothesis that confidence can backfire if a confident and accurate claim is not justified: the trustworthiness of a confident speaker who turns out to be right is damaged if the confidence expressed is based on weak evidence (bad confidence-evidence calibration). Our results support both hypotheses and thus suggest that “confidence-evidence calibration” plays a crucial role in the assessment of speaker trustworthiness. (shrink)

This paper argues that epistemic errors rooted in group- or identity- based biases, especially those pertaining to disability, are undertheorized in the literature on medical error. After sketching dominant taxonomies of medical error, we turn to the field of social epistemology to understand the role that epistemic schemas play in contributing to medical errors that disproportionately affect patients from marginalized social groups. We examine the effects of this unequal distribution through a detailed case study of ableism. There are four primary (...) mechanisms through which the epistemic schema of ableism distorts communication between nondisabled physicians and disabled patients: testimonial injustice, epistemic overconfidence, epistemic erasure, and epistemic derailing. Measures against epistemic injustices in general and against schema-based medical errors in particular are ultimately issues of justice that must be better addressed at all levels of health care practice. (shrink)

This concluding chapter of _Techno-Fixers: Origins and Implications of Technological Faith_ examines the widespread overconfidence in present-day and proposed 'technological fixes', and provides guidelines - social, ethical and technical - for soberly assessing candidate technological solutions for societal problems.

Encouraging people to consider multiple alternatives appears to be a useful debiasing technique for reducing many biases (explanation, hindsight, and overconfidence), if the generation of alternatives is experienced as easy. The present research tests whether these alternative generation procedures induce a mental simulation mind-set (cf. Galinsky & Moskowitz, 2000), such that debiasing in one domain transfers to debias judgments in unrelated domains. The results indeed demonstrated that easy alternative generation tasks not only debiased judgments in the same domain but (...) also generalized to debias judgments in unrelated domains, provided that participants were low in the need for structure. The alternative generation tasks (even when they were easy to perform) showed no evidence of activating a mental simulation mind-set in individuals high in need for structure, as these individuals displayed no transfer effects. Implications of the results for understanding the role of the need for structure, ease of generation, and mental simulation mind-set activation for debiasing are discussed. (shrink)

There has been little investigation to date of the way metacognition is involved in conceptual change. It has been recognised that analytic metacognition is important to the way older children acquire more sophisticated scientific and mathematical concepts at school. But there has been barely any examination of the role of metacognition in earlier stages of concept acquisition, at the ages that have been the major focus of the developmental psychology of concepts. The growing evidence that even young children have a (...) capacity for procedural metacognition raises the question of whether and how these abilities are involved in conceptual development. More specifically, are there developmental changes in metacognitive abilities that have a wholescale effect on the way children acquire new concepts and replace existing concepts? We show that there is already evidence of at least one plausible example of such a link and argue that these connections deserve to be investigated systematically. (shrink)

A number of philosophers have defended the view that seemingly intellectually arrogant behaviours are epistemically beneficial. In this chapter I take issue with most of their conclusions. I argue, for example, that we should not expect steadfastness in one's belief in the face of contrary evidence nor overconfidence in one’s own abilities to promote better evaluation of the available evidence resulting in good-quality group-judgement. These features of individual thinkers are, on the contrary, likely to lead groups to end up (...) in stalemates and to polarise over issues. It is true that groups benefit from including members that, prior to discussion, hold diverse views. But disagreement benefits group judgement only when it is transient, rather than entrenched. That is, groups reach better quality conclusions when a number of diverse opinions are disseminated and evaluated fairly before reaching a consensus. If this is right, it would seem that individual qualities, such as open-mindedness and even-handedness about the epistemic value of opinions other than one's own, rather than steadfastness or overconfidence are conducive to better quality group judgement. (shrink)

The clash between Galileo and the Catholic Inquisition has been discussed, studied, and written about for many decades. The scientific, theological, political, and social implications have all been carefully analysed and appreciated in all their interpretative fruitfulness. The relatively recent trend in this kind of scholarship however seems to have underestimated the fact that Galileo in this debate, as in his earlier debates, showed a particular style marked by overconfidence. If we keep in mind the Lakatosian account of scientific (...) development, it is of course perfectly understandable that scientists at times stick to their convictions by producing auxiliary hypotheses as buffers against contrary evidence. And elements of this are detectable in the arguments of both Galileo and his opponents. But one still needs to ask: To what extent did Galileo depend on auxiliary hypotheses? How insecure did they render his position? And how ad hoc were they? These are important questions because Galileo’s particular way of dealing with auxiliary hypotheses can throw light on the broader question of when and how auxiliary hypotheses are needed within scientific practice in general. It can even indicate some way of conceiving degrees of ad hocness. In this paper, I explore this issue by comparing two important debates in which Galileo was involved: one about the nature of water and buoyancy, the other about cosmology. I revisit not only the scientific content of these debates but also the cultural context in which they took place, especially their dependence on patronage and their theological repercussions. The results indicate that scholarship on Galileo can still be useful in clarifying currently relevant aspects of scientific practice, and is thus still far from its expiry date. (shrink)

Modeling social interactions based on individual behavior has always been an area of interest, but prior literature generally presumes rational behavior. Thus, such models may miss out on capturing the effects of biases humans are susceptible to. This work presents a method to model egocentric bias, the real-life tendency to emphasize one's own opinion heavily when presented with multiple opinions. We use a symmetric distribution, centered at an agent's own opinion, as opposed to the Bounded Confidence (BC) model used in (...) prior work. We consider a game of iterated interactions where an agent cooperates based on its opinion about an opponent. Our model also includes the concept of domain-based self-doubt, which varies as the interaction succeeds or not. An increase in doubt makes an agent reduce its egocentricity in subsequent interactions, thus enabling the agent to learn reactively. The agent system is modeled with factions not having a single leader, to overcome some of the issues associated with leader-follower factions. We find that agents belonging to factions perform better than individual agents. We observe that an intermediate level of egocentricity helps the agent perform at its best, which concurs with conventional wisdom that neither overconfidence nor low self-esteem brings benefits. (shrink)

Many natural scientists of the past and the present have imagined that they pursued their activity according to its own inherent rules in a realm distinctly separate from the business world, or at least in a realm where business tended to interfere with science from time to time, but was not ultimately an essential component, ‘because one thought that in science one possessed and loved something unselfish, harmless, self-sufficient, and truly innocent, in which man’s evil impulses had no part whatever’, (...) as Nietzsche once commented (Nietzsche 1974, p.106). With the extreme technological changes that have occurred in the last fifty years and the orchestrated management changes in the culture of science, it is now obvious that science is intimately tied to private businesses, industry, and society. Within this structure, the scientist has generally unknowingly defined him or herself in accordance with obsolete myths that have tended to handicap the scientist’s freedom of action, by obscuring the modern political and economic realities of science, and neglecting the inherent responsibilities of the scientist as a critical actor in the theater of human civilization. The increasing incorporation of academic science and private industry, and the governmentally supervised nature of modem academic science, has corrupted the traditional freedom and character of the scientist. In order to navigate oneself and find meaning within the new structure of science, scientists now desperately need a fresh ethos that at once considers modern realities of the politics and management of science, societal urgencies, and global politics, as well as establishing a moral perspective where modern scientists can be actors with their own intentionality and responsibility. -/- In the culture of science, myths and ideologies are of critical importance for the formation of the scientist, because these ideas determine how scientists conceive of themselves as professionals and free individuals. More importantly, these ideas determine how scientists approach scientific activity, which exists in a social context, and which ultimately has the potential to dramatically change the characteristics of civilization as it is played out on the political and technological battlefield. It is a commonly held notion in the community of the natural sciences that science now is essentially what it was when it was described by the Nobel laureates of the past; those sweet, cushioning, pleasant words consecrating the ‘temple of science’; the picture of a humble, rational, and noble Einstein is imprinted into our memories. By dismantling these obsolete myths of the scientist and surveying contemporary trends in science, this article will explore a more realistic perspective toward the field of science. The goal of this investigation is to determine the modern reality and ultimate meaning of ‘science as a vocation’ (Shorett 2003). Finally, moral philosophy will be demonstrated to be a critical clement in the self-assertion of the scientist and the elucidation of the meaning of science as a vocation in a global technological society. -/- From the Postscript, 2015: This article took final form when I was a postdoctoral researcher in Canada. Reading it now, I recognize the article still has value, despite its many flaws, hyperboles, and idealism. Many issues in the article have become increasingly relevant, such as the need to make constant trade-offs in courses of action and continuously search for more morally significant research paths. Perhaps the greatest goals in writing the article were to increase intellectual control over the path of my scientific research, to escape the increasing conformity and constraints on modern life, to participate in an open society, to formulate my personal goals and goal hierarchies, to dispel any delusions of overconfidence, and to not be corrupted. (shrink)

Motivated by recent controversies concerning the relationship between modern mindfulness-based interventions and Buddhism, this article discusses the relationship between mindfulness and dogmatism in general, and dogmatism in ethics in particular. The point of view taken is primarily that of the psychology of judgment and deci-sion making: Various cognitive illusions affect the feelings of righteousness and certainty that tend to accompany ethical and moral judgments. I argue that even though there is some evidence that mindfulness practice im-proves judgment and decision making, (...) thisimprovement is rarely as strong as is implied in various contributions to the above-mentioned controversies. In addition, I reflect on claims that “the original teachings of the Buddha” jus-tify the moral stances taken. I argue that these stances likely arise, at least in part, due to the cultural transmission of cognitive dissonance of early Christianity rather than being inherent in the Buddha’s teachings. (shrink)

Every time we act in an effort to attain our epistemic goals, we express our epistemic agency. The present study argues that a proper understanding of the actions and goals relevant to expressions of such agency can be used to make ameliorative recommendations about how the ways in which we actually express our agency can be brought in line with how we should express our agency. More specifically, it is argued that the actions relevant to such expressions should be identified (...) with the variety of actions characteristic of inquiry; that contrary to what has been maintained by recent pluralists about epistemic value, the only goal relevant to inquiry is that of forming true belief; and that our dual tendency for bias and overconfidence gives us reason to implement epistemically paternalistic practices that constrain our freedom to exercise agency in substantial ways. In other words, when it comes to our freedom to express epistemic agency, more is not always better. In fact, less is often so much more. (shrink)