Prof. Jayanth R. Varma's Financial Markets Blog

Abstraction bias or bias bias?


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I argue that Steven L. Schwarcz' paper on abstraction bias as a cause of excessive risk-taking is an instance of what Gigerenzer called the bias bias - the tendency to spot biases even when there are none.
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Prof. Jayanth R. Varma's Financial Markets BlogBy Prof. Jayanth R. Varma