Final answer:
The notion described is the Dunning-Kruger effect, where novices overrate and experts underrate their judgments and knowledge. This cognitive bias warns of the pitfalls of overconfidence for novices and misplaced humility for experts, underscoring the need for realistic self-assessment.
Step-by-step explanation:
The notion that experts and novices are more confident in their judgments than is justifiable is known as the Dunning-Kruger effect. This cognitive bias illustrates the paradox where novices tend to overestimate their understanding and ability, believing they are more competent than others, while experts might underestimate their own expertise, assuming that their level of knowledge is common. The Dunning-Kruger effect warns us that our intuitive sense of our own knowledge is likely inaccurate, especially in areas that are new to us, and highlights the importance of epistemic humility — recognizing the limits of one's knowledge.
It's crucial to consider this effect in various aspects of life and learning, as misestimating one's competence can lead to significant errors in judgment and decision-making. Understanding the Dunning-Kruger effect can help individuals adopt a more realistic self-assessment of their abilities and knowledge, especially in unfamiliar territories.