The favorite-longshot bias describes the longstanding empirical regularity that betting odds provide biased estimates … misperceptions of probability drive the favorite-longshot bias, as suggested by Prospect Theory …

Purchasing power adjusted incomes applied in cross-country comparisons are measured with bias. In this paper, we … estimate the purchasing power parity (PPP) bias in Penn World Table incomes and provide corrected incomes. The bias is … bias and the bias in consumer price index (CPI) numbers. The PPP bias and subsequent corrected incomes are measured by …

bias is persistent and robust to several model extensions. Implications for the optimal design of intellectual property …

lives for three periods. Our results show how a paternalistic government may correct for the effects of anticipation-bias …

bias in labor court activity - that is, court activity varies systematically with the political leaning of the government …

bias | but one that represents an optimal Bayesian decision, given the limitations of the mental representation of the …

We analyze how agents' present bias affects optimal contracting in an infinite-horizon employment setting. The …

to a fiscal deficit bias at the early stages of financial liberalization. When countries differ in terms of capital …