By Elif Çalışkan
The illusion of control is a cognitive bias which causes us to assume that we have exact control over the outcome of a situation when actually we do not. However, it is a very common strategy to cope with disappointments, difficulties, and other uncomfortable feelings (Aftab, 2013). The influence of the control bias can be insincere also during investing. We will explain 4 effects of investing under the illusion of control.