The Self-Perpetuation of Biased Beliefs  

Oleh:

Suen, Wing

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: The Economic Journal (EBSCO) vol. 114 no. 495 (Apr. 2004), page 377-396.
Topik: EVIDENCE; self - perpetuation; biased beliefs
Fulltext: 377.pdf (170.14KB)

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Perpustakaan Pusat (Semanggi) Nomor Panggil: EE28.13 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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To overcome strong prior beliefs, strong evidence to the contrary is needed. If a person is predisposed to choosing a certain action, the advice from an advisor who sets a low threshold for recommending the alternative action is not of much use. The preference for like -minded advisors who supply coarse information implies that the advice a person receives is likely to reinforce his existing priors. This effect can lead to polarisation of opinion and the emergence of self - serving beliefs. The learning process is prolonged and the induced short run bias can become perpetual if information is costly.

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