provide a response to this discussion post and include citations Provide a real-world example where overconfident assessments lead to suboptimal outcomes. Evaluate the specific stages of the capital budgeting process that are most susceptible to overconfidence. A prime example of overconfidence leading to suboptimal outcomes in capital budgeting is the dot-com bubble of the late 1990s. Companies, driven by an irrational exuberance and belief in the limitless potential of the internet, vastly overestimated the profitability of online businesses. They poured vast sums of money into ventures with little or no proven business models, fueled by a belief that their oversimplified predictions about user adoption and revenue growth would materialize. When the market corrected, many of these companies went bankrupt, resulting in substantial financial losses for investors and the broader economy. Specific Stages Susceptible to Overconfidence: Project Selection: Overconfident managers may favor projects with high potential but unrealistic returns, overlooking the inherent risks and uncertainties. They might overestimate the project's strategic fit with the company's capabilities or underestimate the competitive landscape. Cost Estimation: Overconfidence can lead to significant underestimation of project costs, both initial capital expenditures and ongoing operating expenses. This can result in projects being approved based on inaccurate financial projections and later facing budget