Final answer:
In decision making, individuals have a tendency to overestimate the intensity and duration of their future emotions, a pattern relating to affective forecasting and influenced by cognitive biases like the substitution heuristic and the Dunning-Kruger effect.
Step-by-step explanation:
In the context of decision making, the phenomenon where we might overestimate or underestimate our emotions is a psychological aspect that involves our ability to predict our future emotional states. Research in this area suggests that people have a propensity to overestimate the intensity and duration of their future emotions, a phenomenon known as affective forecasting. This can be related to various cognitive biases that influence our decisions, such as the substitution heuristic, which describes our tendency to respond to complex problems by replacing them with simpler, more easily answerable questions, often leading to inaccurate or inappropriate outcomes. Furthermore, concepts like heuristic shortcuts and the Dunning-Kruger effect, where individuals overrate their own abilities due to a lack of expertise, might also contribute to the tendency to overestimate our emotions. In decision making, this bias can lead to poor judgments and decisions that don't serve our long-term interests or those of others.