The Egocentric Bias is a cognitive bias that refers to the tendency of individuals to interpret and remember information in a way that is favorable to themselves. This bias often leads people to overestimate their own abilities, view themselves in a more positive light, and downplay their flaws and mistakes. In decision-making, the Egocentric Bias can have a significant impact as it can influence how individuals assess risks, evaluate options, and make choices. It can also affect how individuals perceive and interact with others, leading to misunderstandings and conflicts. In this essay, we will explore the meaning and impact of the Egocentric Bias in individuals’ decision-making and perceptions, and discuss ways to mitigate its effects.
Egocentric bias occurs when people claim more responsibility for themselves for the results of a joint action than an outside observer would credit them.
Besides simply claiming credit for positive outcomes, which might simply be self-serving bias, people exhibiting egocentric bias also cite themselves as overly responsible for negative outcomes of group behavior as well (however this last attribute would seem to be lacking in megalomania).
This may be because our own actions are more “available” to us than the actions of others.