Rare, formal noun for a mistaken belief or erroneous notion. Mostly found in older or highly formal writing; in everyday Japanese, 誤解 or 思い違い is preferred.
That paper was written to correct the misconceptions of the time.
Compound of 謬 (mistake, error) and 想 (thought, idea). The exact historical derivation is uncertain; the spelling is conventionally associated with the meaning 'erroneous thought'.