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In economics, money illusion, or price illusion, is a cognitive bias where money is thought of in nominal, rather than real terms. In other words, the face value (nominal value) of money is mistaken for its purchasing power (real value) at a previous point in time.
Media bias is the bias or perceived bias of journalists and news producers within the mass media in the selection of events, the stories that are reported, and how they are covered. The term generally implies a pervasive or widespread bias violating the standards of journalism , rather than the perspective of an individual journalist or article ...
A Micro-inequity is a small, often overlooked act of exclusion or bias that could convey a lack of respect, recognition, or fairness towards marginalized individuals. These acts can manifest in various ways, such as consistently interrupting or dismissing the contributions of a particular group during meetings or discussions.
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Bias is a distinct concept from consistency: consistent estimators converge in probability to the true value of the parameter, but may be biased or unbiased (see bias versus consistency for more). All else being equal, an unbiased estimator is preferable to a biased estimator, although in practice, biased estimators (with generally small bias ...
A cardboard sign calling for inclusive language at a feminist protest in Madrid, 2013, with basic usage instructions. Inclusive language is a language style that seeks to avoid expressions that its proponents perceive as expressing or implying ideas that are sexist, racist, or otherwise biased, prejudiced, or insulting to particular group(s) of people; and instead uses language intended by its ...
Inflationary bias is the outcome of discretionary monetary policy that leads to a higher than optimal level of inflation. Depending on the way expectations are formed in the private sector of the economy, there may or may not be a transitory income increase.
The neglect of probability, a type of cognitive bias, is the tendency to disregard probability when making a decision under uncertainty and is one simple way in which people regularly violate the normative rules for decision making. Small risks are typically either neglected entirely or hugely overrated.