The Expert Trap: Why Success Makes You Blind to Risk-and How to Spot the Warning Signs Before You Lose Everything - Softcover

Inhaltsangabe

In The Expert Trap, author Simon Blackwood explores the measurable gap between how certain experts sound and how often they turn out to be right. Rather than a critique of arrogance or ego, this book uncovers a statistical failure that sits underneath collapsed hedge funds, wrongful medical diagnoses, failed forecasts, and startup burn-rate fantasies-moments where the people involved were not villains, but were dangerously miscalibrated. Drawing on behavioral science and decision research, Simon Blackwood reveals how overconfidence operates through three distinct patterns-overestimation, overplacement, and overprecision-each creating a different kind of damage. The book dismantles the gap not through abstract theory, but through forensic case studies: the Nobel laureates at Long-Term Capital Management who watched billions evaporate in 1998, surgeons whose diagnostic certainty correlates weakly with actual accuracy, political and financial forecasters whose predictions go unchecked, and founders whose launch dates harden into fiction long before the underlying uncertainty resolves. - Why the most credentialed professionals fail most confidently at the worst possible moments - The collapse of Long-Term Capital Management, staffed by Nobel Prize winners who miscalculated their own risk exposure - How physicians' stated confidence in diagnoses tracks far more weakly with accuracy than patients assume - The three measurable forms of overconfidence that operate independently across domains - Why forecasters rarely face public audits of their past predictions, and what happens when someone actually checks - How startup founders treat launch dates as facts before they've earned the right to be plans

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