CORDIS
EU research results

CORDIS

English EN

Improving collective decisions by eliminating overconfidence: mental, neural and social processes

Project information

Grant agreement ID: 819040

Status

Ongoing project

  • Start date

    1 September 2019

  • End date

    31 August 2024

Funded under:

H2020-EU.1.1.

  • Overall budget:

    € 1 928 912

  • EU contribution

    € 1 928 912

Hosted by:

LUDWIG-MAXIMILIANS-UNIVERSITAET MUENCHEN

Germany

Project description

English EN

Eliminating overconfidence for collective decision making

The overconfidence effect is a well-established bias in which a person's subjective confidence in his or her judgements is reliably greater than the objective accuracy of those judgements, especially when confidence is relatively high. This bias is pervasive, costly, and the root cause of many human failures. Previous failed attempts at reducing overconfidence targeted individual decisions. The EU-funded project rid-O aims to reduce this bias at a social level of decision making by determining the underlying mental, neural and social processes involved in overconfidence. The project focuses on three main forms of social decisions but aims to develop a novel causal intervention that creates consensus.

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Host institution

LUDWIG-MAXIMILIANS-UNIVERSITAET MUENCHEN

Address

Geschwister Scholl Platz 1
80539 Muenchen

Germany

Activity type

Higher or Secondary Education Establishments

EU Contribution

€ 1 928 912

Beneficiaries (1)

LUDWIG-MAXIMILIANS-UNIVERSITAET MUENCHEN

Germany

EU Contribution

€ 1 928 912

Project information

Grant agreement ID: 819040

Status

Ongoing project

  • Start date

    1 September 2019

  • End date

    31 August 2024

Funded under:

H2020-EU.1.1.

  • Overall budget:

    € 1 928 912

  • EU contribution

    € 1 928 912

Hosted by:

LUDWIG-MAXIMILIANS-UNIVERSITAET MUENCHEN

Germany