incorporate behavioural finance into their analysis of an investor’s portfolio. The use of behavioural finance concepts will create the following opportunities for HelloWallet. Availability Bias: People will be influenced more by what they can easily retrieve from memory. Availability bias is a human cognitive bias‚ which causes us to overestimate probabilities of events associated with memorable occurrences. A prime example of this would be plane crashes. Plane crashes are extremely rare; however
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The Declaration was part of a broader diplomatic campaign which sought to assert Scotland’s position as an independent kingdom‚[2] rather than being a feudal land controlled by England’s Norman kings‚ as well as lift the excommunication of Robert the Bruce.[3] The Pope had recognised Edward I of England’s claim to overlordship of Scotland in 1305 and Bruce was excommunicated by the Pope for murdering John Comyn before the altar in Greyfriars Church in Dumfries in 1306.[3] The Declaration made a
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What appears on the next page is a graph representing “aggregation bias” in data. Per Bakken’s report‚ he assumes that there are no differences between stand-alone retail properties (such as Walgreens) and strip-mall retail properties. He even uses a case study to “prove” that there are no differences in rents between strip and stand-alone retail properties. However‚ by looking at the graph on the next page‚ it is possible to find a stand-alone retail property (from Submarket B) that overlaps with
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Hindsight bias: Hindsight bias is when you know something right after it happens and not while it is happening. Some people call it the I-knew-it-all-along phenomenon. This is where you watch a sports game and when the game is over‚ think to yourself that you knew they would loose‚ when in fact you were on the edge of your seat waiting to see how the game was going to end and if your team would win or not. (Myers‚ 2010‚ p.16.) I have had several instances where hindsight bias has
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confirmation bias can easily influence our perceptions and holding certain beliefs can also generate their own confirmation; regardless of the statistics‚ facts‚ or proof. Our preconception of our society‚ world‚ or even any given situation will greatly influence how we will interpret those things and situations or by the beliefs that we hold. Since most people tend to side with information that confirms how they may perceive a situation‚ a good example could be gun control and the bias that may arise
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The End of a Tyranny "The Declaration of Independence" is one of the most defining works of American history. During the writing of the "Declaration of Independence"‚ the Thirteen American Colonies were very busy deciding whether America should be independent or not. Some of the topics included how Britain treats the American Colonies‚ and whether the timing is right to depart from the rule of Great Britain. However all of this heated debate all boiled down to one inspirational document which set
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Detecting Media Bias Jeffrey E. Ferreiras University of Phoenix Critical and Creative Thinking 16 December 2012 Aimee Nichols When reading the media one must always consider that media may be bias‚ people may have incentives or hidden agendas and the facts may be conflicting. In order to properly evaluate and decide what information makes sense and what seems like a lie the audience should practice critical reading. A critical reader is able to separate fact from interpretation; to
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Running head: Heuristics and Bias Heuristics and Bias Ebony J. Travis American Intercontinental University Professor Walter McCord Decision Making BUS300-0704A-03 October 27‚ 2007 Volvo: A Consumer’s Choice As an employee of It’s Electric‚ I have been delegated the assignment of picking a line of automobiles to use as company cars. On the grounds of economy and longevity‚ I am looking to purchase Volvo’s after some research on Consumer Reports. Through an exclusive fleet program
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Our founding fathers who wrote the United States Declaration of Independence and the Preamble of the Constitution carefully chose the words that they connected with the rights that United States citizens would be granted so that the rights could still be applied in today’s society. Some of the phrases and words that were chosen for the Declaration of Independence and the Preamble include the right to unalienable rights‚ to establish justice‚ insure domestic tranquility‚ promote general welfare‚ and
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Detecting Media Bias Everyone has their opinion. How much opinion should be allowed when it comes to the news? Is it possible to see a reporter’s bias when they report the events happening in our towns‚ states‚ country‚ or the world? This is when the reader‚ listener‚ or viewer needs to follow specific tips to understand the information at hand. The public has the ability to differentiate between facts and impressions. Recently‚ there was an article online about a bill that has stumbled in
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