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In 1996, Elton, Gruber, and Blake showed that survivorship bias is larger in the small-fund sector than in large mutual funds (presumably because small funds have a high probability of folding). [8] They estimate the size of the bias across the U.S. mutual fund industry as 0.9% per annum, where the bias is defined and measured as:
For example, when getting to know others, people tend to ask leading questions which seem biased towards confirming their assumptions about the person. However, this kind of confirmation bias has also been argued to be an example of social skill; a way to establish a connection with the other person. [9]
For example, confirmation bias produces systematic errors in scientific research based on inductive reasoning (the gradual accumulation of supportive evidence). Similarly, a police detective may identify a suspect early in an investigation, but then may only seek confirming rather than disconfirming evidence.
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 ...
The Cognitive Bias Codex. A cognitive bias is a systematic pattern of deviation from norm or rationality in judgment. [1] Individuals create their own "subjective reality" from their perception of the input. An individual's construction of reality, not the objective input, may dictate their behavior in the world.
Los Angeles Times owner Patrick Soon-Shiong, who blocked the newspaper’s endorsement of Kamala Harris and plans to overhaul its editorial board, says he will implement an artificial intelligence ...
While the latter has been found to be more prevalent in individualistic cultures than collectivistic cultures, correspondence bias occurs across cultures, [46] [47] [48] suggesting differences between the two phrases. Further, disposition correspondent inferences made to explain the behavior of nonhuman actors (e.g., robots) do not necessarily ...
Turkey illusion is a cognitive bias describing the surprise resulting from a break in a trend, if one does not know the causes or the framework conditions for this trend. [1] The concept was first introduced by Bertrand Russell [ 2 ] to illustrate a problem with inductive reasoning .