The illusion of control is the tendency for people to overestimate their ability to control events, particularly in situations where they have little or no actual influence. This cognitive bias can lead individuals to believe they have power over outcomes that are primarily governed by chance, fostering a false sense of capability, especially in familiar situations or when they feel an emotional need to control the outcome.
A notable example of the illusion of control occurred during the 2002 Olympics hockey finals when Team Canada believed that a coin placed beneath the ice would bring them good luck, highlighting how they attributed control over the outcome of the game to an unrelated object.
To overcome the illusion of control, it's essential to recognize and acknowledge the limits of one's influence over random events, focusing on applying effort where control is genuinely achievable rather than assuming control over chance outcomes.