misjudgment

As nouns the difference between folly and misjudgment

is that folly is while misjudgment is an act of misjudging, a mistake in judgment.

As nouns the difference between mistake and misjudgment

is that mistake is an error; a blunder while misjudgment is an act of misjudging, a mistake in judgment.

As a verb mistake

is to understand wrongly, taking one thing for another, or someone for someone else.