Additional Bias Effects

Additional Bias Effects

In this video, Roger expands on his video "Bias Effects" by covering more biases including confirmation bias, availability bias, hysteresis, social proof and delusion.
Overview

The FCA are especially concerned with biases in finance, because they lead to irrational decisions that negatively impact consumers. Some of which are explained below including confirmation and availability bias, social proof, hysteresis, and delusion bias.

Key learning objectives:

  • Why do biases happen?

  • Why do conduct regulators care about behavioural science?

  • Define and give examples of confirmation and availability bias, social proof, hysteresis, and delusion bias

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