Читать книгу Behavioral Finance and Your Portfolio - Michael M. Pompian - Страница 33

In its simplest form, cognitive biases are those biases based on faulty cognitive reasoning (cognitive errors), while emotional biases are those based on reasoning influenced by feelings or emotions. Cognitive errors stem from basic statistical, information processing, or memory errors; cognitive errors may be considered to be the result of faulty reasoning. Emotional biases stem from impulse or intuition; emotional biases may be considered to result from reasoning influenced by feelings. Behavioral biases, regardless of source, may cause decisions to deviate from the assumed rational decisions of traditional finance. A more elaborate distinction between cognitive and emotional biases is made in the next section.