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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.
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.
A 1982 study by Ralph Katz and Thomas J. Allen provides empirical evidence for the "not invented here" syndrome, showing that the performance of R&D project groups declines after about five years, which they attribute to the groups becoming increasingly insular and communicating less with key information sources outside the group.
Basic Economics is a non-fiction book by American economist Thomas Sowell published by Basic Books in 2000. The original subtitle was A Citizen's Guide to the Economy, but from the third edition in 2007 on it was subtitled A Common Sense Guide to the Economy.
Funding bias, also known as sponsorship bias, funding outcome bias, funding publication bias, and funding effect, is a tendency of a scientific study to support the interests of the study's financial sponsor. This phenomenon is recognized sufficiently that researchers undertake studies to examine bias in past published studies.
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.
False balance, known colloquially as bothsidesism, is a media bias in which journalists present an issue as being more balanced between opposing viewpoints than the evidence supports. Journalists may present evidence and arguments out of proportion to the actual evidence for each side, or may omit information that would establish one side's ...
Home bias in equities is a behavioral finance phenomenon and it was first studied in an academic context by Kenneth French and James M. Poterba (1991) [3] and Tesar and Werner (1995). [ 4 ] Coval and Moskowitz (1999) showed that home bias is not limited to international portfolios, but that the preference for investing close to home also ...