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Forms of human cognitive bias?
Issue
1
#37415
CONTEXT
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The Global Financial Crisis »
The Global Financial Crisis
The Global Financial Crisis☜Exploring the causes, consequences and responses to the global financial crisis. ☜F1CEB7
▲
Long-term causes of the financial crisis? »
Long-term causes of the financial crisis?
Long-term causes of the financial crisis?☜What are the long term causes of the current financial crisis?☜FFB597
▲
Human cognitive biases »
Human cognitive biases
Human cognitive biases☜Familiar cognitive errors that afflicted everyone: investors, home buyers, lenders, regulators.☜59C6EF
■
Forms of human cognitive bias?
Forms of human cognitive bias?☜☜FFB597
●
Availability heuristic »
Availability heuristic
Availability heuristic☜People tend to overweight data that comes easily to mind, which is to say vivid (extreme) and recent examples.☜59C6EF
●
Bandwagon effect »
Bandwagon effect
Bandwagon effect☜People tend to believe that something is a better idea if a lot of other people are doing it.☜59C6EF
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Beneffectance »
Beneffectance
Beneffectance☜People tend to view success as a result of their own actions, while they view failures as having been due to factors largely outside of their control.☜59C6EF
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Confirmation bias »
Confirmation bias
Confirmation bias☜The tendency to look for data that confirms your theory, rather than data that falsifies it. ☜59C6EF
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Hyperbolic discounting »
Hyperbolic discounting
Hyperbolic discounting☜People value small short-term payoffs more than much higher long-term payoffs.☜59C6EF
●
Information cascade »
Information cascade
Information cascade☜An information cascade occurs where people dismiss their individual instincts and personal data and base their decisions on the choices made by previous decision makers—and their decisions in turn influence every subsequent person to do the same.☜59C6EF
●
Optimistic bias »
Optimistic bias
Optimistic bias☜People tend to be overconfident about their own abilities and the outcome of their plans.☜59C6EF
●
Overconfidence bias »
Overconfidence bias
Overconfidence bias☜People are too confident in the accuracy of their predictions.☜59C6EF
●
Promotion of people with short-term, action bias »
Promotion of people with short-term, action bias
Promotion of people with short-term, action bias☜People promoted to run top companies are typically selected for the ability to deliver immediate targets; this focus often makes them poorly equipped to take the more distanced, historical perspective necessary to spot the long-term trouble brewing.☜59C6EF
●
Recency effect »
Recency effect
Recency effect☜People tend to overweight recent events in considering the probability of future events. ☜59C6EF
►
Decision making under uncertainty »
Decision making under uncertainty
Decision making under uncertainty☜☜FFFACD
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Entered by:-
David Price
NodeID:
#37415
Node type:
Issue
Entry date (GMT):
11/16/2009 7:44:00 PM
Last edit date (GMT):
11/16/2009 7:44:00 PM
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