Which cognitive heuristic involves the natural tendency to underestimate one's risks and to overestimate one's ability to manage dangerous situations?

A) illusion of control
B) loss and risk aversion
C) optimistic bias
D) elimination by aspect

Optimistic bias refers to the cognitive heuristic where individuals believe they are less likely to experience negative events and more likely to experience positive events compared to others. This leads to underestimating risks and overestimating one's ability to handle dangerous situations.