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optimism bias

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Hofstadter's law

Hofstadter's law  

The adage that a task will always take longer than expected, even when Hofstadter's law is taken into account. The law is therefore endlessly recursive. Although often taken facetiously, the law ...
planning fallacy

planning fallacy  

The demonstrated tendency for people to underestimate the length of time it will take them to complete a task. Various explanations have been offered, including optimism bias, failure to allow for ...
strategic misrepresentation

strategic misrepresentation  

In planning and budgeting, the tendency for those presenting projects for approval knowingly to understate costs and overstate benefits. This is a matter of deliberate policy and thus distinct from ...

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