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A pervasive concern with the use of subjective data in choice models is that the data are biased and endogenous. This paper examines the extent to which cognitive biases plague subjective data, specifically addressing 1) whether cognitive dissonance affects the reporting of beliefs, and 2)...
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dramatic consequences. To test whether the overconfidence bias affects the decision of backcountry skiers to go on a ski trip …Overconfidence is a well-established bias in which someone's subjective confidence in their own judgments is …
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