Attributional Bias

After the car accident, John was sued by the police. At court, John acknowledged that he was driving more than the speed limit, but accused other drivers for a collision. He accused another driver late. Attribution is the cause of human behavior, attribution is a way for humans to understand the world. There are mainly three types of attribution bias that affect recall. Basic attribution error (FAE), hedonistic relevance, and selfish preference.

In many non-economic sectors such as education, politics, anthropology, sports (famous "hot hand error"), we are exploring the role of self attributation bias - almost all self-attribution bias is found as cognitive perceptions It is included in the field human behavior and behavior aspects, even the love (see above) - However, considering our premise, it is important to take this into account when analyzing economic behavior. Robert Hiller, one of the forerunners of behavioral finance in 2013, said financial markets are "irrationally energetic", and during the economic downturn they are rewarded excessively during the investment, production and financial bubble I believe. "This is a mistake of another person";

Self-attributed prejudice, habit of accusing good results on occupational knowledge, and adverse effects on unfortunate and extrinsic events are also studied in behavioral finance in detail. As we all know, George Soros is a very successful investor who explains this trend by placing an estimation log record behind all investment decisions. Many other trends, such as loss avoidance, bias of confirmation, bias of availability, disposal effect, and bias of intimacy, are studied in behavioral finance.

The basic attribution deviation (FAB) is also called corresponding deviation or excess attribution. This is a person who tends to overestimate the influence of personal factors inherent to individuals, including efforts and abilities, while underestimating the influence of contextual factors on individuals' rapid analysis. Work and luck have great external influences. People tend not to determine the context in which actions are expressed, but to very humanly attribute specific displayed behavior to the features the actor knows. The basic attribution is wrong people, as it is based on their own opinion and hence affects performance evaluation. Tendency to overestimate trend factors compared to contextual influences (Arkes 1987, p, 11)