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Washington: Overconfidence helps individuals attain
social status, and less capable people who believe they are better
than others are given a higher place in the social ladder,
according to a US study.
The lure of social status promotes overconfidence, explains
Cameron Anderson, associate professor at the University of
California Berkeley Hass School of Business, who co-authored the
study with Sebastien Brion, assistant professor of managing people
in organisations, IESE Business School, University of Navarra and
others.
These findings suggest one reason why in organisational settings,
incompetent people are so often promoted over their more competent
peers, the Journal of Personality and Social Psychology reports.
"In organisations, people are very easily swayed by others'
confidence even when that confidence is unjustified," says
Anderson. "Displays of confidence are given an inordinate amount
of weight."
"Our studies found that overconfidence helped people attain social
status. People who believed they were better than others, even
when they weren't, were given a higher place in the social
ladder," says Anderson, according to a California statement.
People are known to be frequently overconfident, believing they
are more physically talented, socially adept, and skilled at their
job than they actually are.
For example, 94 percent of college professors think they do above
average work (which is impossible, statistically speaking). But
this overconfidence can also have detrimental effects on their
performance and decision-making.
Social status is the respect, prominence, and influence
individuals enjoy in the eyes of others. Within work groups, for
example, higher status individuals tend to be more admired,
listened to, and have more sway over the group's discussions and
decisions.
These "alphas" of the group have more clout and prestige than
other members. Anderson says these research findings are important
because they help shed light on a longstanding puzzle: why
overconfidence is so common, in spite of its risks.
His findings suggest that falsely believing one is better than
others has profound social benefits for the individual.
The studies based on 242 MBA students, suggest that organisations
would benefit from taking individuals' confidence with a grain of
salt. Yes, confidence can be a sign of a person's actual
abilities, but it is often not a very good sign. Many individuals
are confident in their abilities even though they lack true skills
or competence.
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