Researchers have long known that people are very frequently overconfident -- that they tend to believe they are more physically talented, socially adept, and skilled at their job than they actually are. For example, 94 percent of college professors think they do above average work (which is nearly impossible, statistically speaking). But this overconfidence can also have detrimental effects on their performance and decision-making. So why, in light of these negative consequences, is overconfidence still so pervasive? The lure of social status.