The planning fallacy is the tendency to underestimate the amount of time it will take to complete a task.
This is further explained below.
Generally, The propensity to underestimate the amount of time it will take to accomplish a job is known as the planning fallacy.
Participants in this research often commit the error known as the planning fallacy. For instance, university students typically acknowledge that they have typically completed previous assignments very close to the deadlines, but they insist that they will finish the next project well in advance of the new deadline. This is even though they have typically finished those assignments very close to the deadlines.
Typically, participants in these experiments display the planning fallacy. For example, university students often concede that they have typically done earlier assignments very close to their deadlines, yet they swear that they will finish the next project well ahead of the new deadline.
In conclusion, The propensity to underestimate the amount of time it will take to accomplish a job is known as the planning fallacy.
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