identifying an additional psychological bias that could potentially influence stock analysts' earnings estimates …

risk premia. The extent of this bias is substantial as verified by a bootstrap approach. We present an alternative … estimation equation for future expected one-period returns based on current and past implied rates of return that is superior to … simple estimators based on historical returns. The reason for this superiority is a lower variance of estimation results and …

status quo bias. We evaluated interest rate forecast series from twelve industrial nations. This revealed that, on average …Status quo bias is a systematic cognitive error which makes it difficult for individuals to make decisions …, forecasts were much too close to the status quo - the current interest rate at the time when the forecast was made. With the aid …