Abstract
The purpose of this article is to describe the concept of knowledge calibration within the context of knowledge management. Knowledge calibration is a concept borrowed from the psychology of decision making. It refers to the correspondence between knowledge accuracy and the confidence with which knowledge is held. Calibration is a potentially important concept for knowledge management because it describes one of the subtle errors that can lead to poor decisions. Where the correspondence between the accuracy of one’s knowledge and the confidence in that knowledge is high, decisions are described as well calibrated; but poor correspondence implies miscalibrated decisions. Since one concern of the field of knowledge management is the best use of knowledge for decision-making purposes, this topic is relevant.
Key Terms in this Chapter
Knowledge Calibration: Correspondence between knowledge accuracy and confidence with which knowledge is held.
Transactive Memory: Refers to the set of individual memory systems in combination with their intercommunications; transactive memory exists as a property of a group as group members share their memories through their interactions with each other and with external memory storage devices.
Tacit Knowledge: Personal or subjective knowledge, which includes mental models, knowhow, skills etc.
Calibration: Correspondence between accuracy and confidence. Calibration exists when there is correspondence.
Miscalibration: Implies a lack of correspondence between accuracy and confidence.
Mechanistic Memory: Refers to information accessed from mechanical systems.
Overconfidence: Exists when a person holds confidence more than what is warranted by the accuracy of his/her knowledge; overconfidence implies miscalibration.
Decision Making: The process and the act of making decisions.