Excessive Self-Regard Tendency
The tendency to overestimate one's own abilities, possessions, and decisions, favor similar others, and rationalize poor performance, leading to biased judgments and persistent errors.
THE IDEA
Too much self-regard has never struck me as dignified: trying to twist over my shoulder to view my own behind. —Marge Piercy
Excessive Self-Regard
People can overrate their abilities, decisions, and contributions. The source cites a survey in which 90% of Swedish drivers rated themselves above average. Attachment can also shape how we judge possessions, family members, and choices we have already made. The endowment effect concerns the added value people place on things they own.
Favoring people like ourselves can reinforce a group’s existing habits and exclude useful differences. Lost-wallet experiments are offered as an example of preference for similar others. The source’s call for "Cleaning house" addresses dysfunctional groups, but assessing the specific behavior and conditions matters more than assuming a whole group is defective.
Confidence in personal insight can also distort gambling and hiring. Choosing lottery numbers does not improve their odds. A compelling interview can draw attention away from a candidate’s relevant record.
The Tolstoy Effect
The source describes two ways people excuse wrongdoing: (1) denying they did it, or (2) treating their circumstances as sufficient justification. A story about a child taking candy makes the point harshly: "It would be better to take all you want and call yourself a thief every time you do it." The useful distinction is between acknowledging what happened and inventing reasons to avoid correcting it.
To counter excessive self-regard:
- Seek evidence about your performance and contributions, including feedback that challenges your preferred account. Identify what can be corrected and follow through.
- Use consistent standards in organizations. Examine relevant work, use structured assessments, and address repeated problems through clear expectations and fair personnel decisions.
Confidence and pride can still support effort. The saying "Never underestimate the man who overestimates himself" captures that possibility. Pride in being dependable is useful when it is supported by conduct and remains open to correction.
When to use it
Hiring: Use structured interviews and weight past performance over personal impressions to avoid overconfidence in face-to-face assessments.
Personal Finance: Be aware of the tendency to overvalue self-picked stocks or bets; consider index funds or probabilistic thinking.
Self-improvement: distinguish a genuine constraint from an excuse, identify what can be changed, and check whether your actions improve the result.
Leadership: investigate repeated performance problems, set clear expectations, and use fair personnel processes rather than accepting excuses or assuming blame.
FROM THEORY TO EVERYDAY LIFE
In practice
Swedish Drivers' Overconfidence
90% of Swedish drivers rate themselves as above average, illustrating the tendency to overestimate one's own abilities.
Endowment Effect
Once a person owns an object, they value it more than they would if they didn't own it, showing overappraisal of possessions.
Lost-Wallet Experiments
People are more likely to return a lost wallet when the owner resembles themselves, demonstrating preference for similar others.
Self-Picked Lottery Numbers
Lottery players bet more when they choose numbers themselves, irrationally overvaluing their own selections despite identical odds.
Hiring Based on Interviews
The source offers Carly Fiorina’s appointment at HP as a caution about persuasive interviews, but supplies no account of the hiring evidence. The general question is whether an assessment gives enough weight to relevant performance alongside presentation.
Tolstoy Effect on Criminals
Serious criminals often believe they are not so bad, either denying the crime or rationalizing it due to life pressures.
Excuses for Poor Performance
People make unreasonable excuses for fixable poor performance instead of fixing it. Example: a child taking candy and planning to replace it is told to admit thievery rather than make excuses.
A MOMENT TO REFLECT
Put it to work.
In what areas of your life might you be overestimating your own abilities or contributions? How can you seek more objective feedback?
How does the endowment effect influence your attachment to possessions, past decisions, or relationships? What can you do to counteract this bias?
When evaluating others, do you tend to favor those similar to you? How might this affect your hiring, team selection, or social circles?
CONTINUE THE CONVERSATION
Source texts
- Wisdom Theory 100 Mental Models (2020) (Wisdom Theory)