The Optimism Bias is a cognitive bias that causes a person to believe that they are at a lesser risk of experiencing a negative event compared to others. The optimistic bias is seen in a number of situations. For example: people believing that they are less at risk of being a crime victim, smokers believing that they are less likely to contract lung cancer or disease than other smokers, first-time bungee jumpers believing that they are less at risk of an injury than other jumpers, or traders who think they are less exposed to losses in the markets.
In this episode Blair discusses the Optimism Bias and a Market Watch article.
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