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Optimism Bias

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Mitigating the optimism bias would be beneficial when facing a financial crisis;the person might be negligent to the severity of the situation and rely on the hope that everything will unfold itself. By leveling down the optimism bias, the person will be able to think without clouding judgement and exert clarity and intelligence in the progression of settling their finances. However, this could very well be their down fall, by minimizing optimism bias too far gone it can lead them to give up because they see no light at the end of the tunnel, they simply prepare to face the worst scenario possible. When competing one is advised to "not get too cocky" , that is due to the allusion that toning down your optimism bias that you always win,

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