What are confidence judgments made of? Students' explanations for their confidence ratings and what that means for calibration

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Activation of inaccurate prior knowledge affects primary-school students' metacognitive judgments and calibration (2013, background): “In a study examining the effect of prior knowledge on calibration, it has been found that learners reported using their prior knowledge when monitoring learning (Dinsmore & Parkinson, 2013).”
How Does Metacognition Contribute to the Regulation of Learning? An Integrative Approach (2014, background): “Dinsmore and Parkinson (2013) also showed that low ability students are less accurate in calibration (i.e., overconfident), have less skills at learning, and are less likely to know they are inaccurate and how close they are to desired learning (see also Hattie, 2013).”