From Yale Daily News:
[Dr.] Sternberg explained to me that there are four fallacious assumptions that impede wisdom and lead smart people into self-destructive mistakes -- the kind that will get you kicked out of school, fired, sued, attacked in the press, and even impeached. These are the fallacies of egocentrism ("When we start to think the world revolves around us"), omniscience ("We know more than everyone else -- the others are just big idiots"), omnipotence ("We, unlike others, can do what we want and get away with it"), and invulnerability ("We are so smart that we can cover our tracks").
Sternberg's theory of foolishness emphasizes the tendency of these fallacies to befall the traditionally stupid and the traditionally very smart. He explained that while the smart act stupidly because they think they can get away with it, the stupid simply "lack the cognitive capacity to realize how foolish these fallacies are."
And,
When asked for the examples foolishness he sees most in Yale students, Sternberg was quick to cite three examples: cheating, shoplifting and heavy drinking. In all three cases, there is some perceived short-term gain to be had, with a heavy possible long-term loss if the perpetrator is caught off guard.
"Smart people turn into self-saboteurs when they do stupid things," he said. "Yale students are more likely than others to think things like 'I can get drunk and take a test tomorrow' or 'Other people have to study, but I don't.' They may be setting themselves up for a really big fall."
A related earlier reference to Sternberg here.
