People tend to overestimate the odds of new technologies’ success, say researchers, and that overconfidence can influence big decisions, like investment choices.
"People seem to put new technology in a category of 'great things that work which I love but don't understand,' whereas they are not as excited about familiar technologies like electricity, solar power, or telephones, and they don't believe these technologies are as likely to provide new solutions," says Chris Robert. Symo0, CC BY-ND 2.0
People tend to overestimate the odds of new technologies’ success, say researchers, and that overconfidence can influence big decisions, like investment choices.
“Technology has advanced to the extent that people may not understand how a particular technology works, but they do assume that it will work,” says Chris Robert, associate professor of management in the University of Missouri Trulaske College of Business.
