Читать книгу Behavioral Finance and Your Portfolio - Michael M. Pompian - Страница 37

The second category of cognitive biases has to do with “processing errors,” and describes how information may be processed and used illogically or irrationally in financial decision making. As opposed to belief perseverance biases, these are less related to errors of memory or in assigning and updating probabilities and instead have more to do with how information is processed. The seven processing errors discussed are: anchoring and adjustment, mental accounting, framing, availability, self-attribution bias, outcome bias, and recency bias.

Individuals are less likely to make cognitive errors if they remain vigilant to the possibility that they may occur. A systematic process to describe problems and objectives; to gather, record, and synthesize information; to document decisions and the reasoning behind them; and to compare the actual outcomes with expected results will help reduce cognitive errors.