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- McKinsey's Four Biases of Failure
- McKinsey's Four Biases of FailureMcKinsey's Four Biases of FailureUnfortunately, some projects fail because there is not enough room given to the brainstorming process of the "forward think". I have developed a process called "SCOPE2" copyrighted, in which the T3 ("Think Tank Team), fully explores every aspect of an organization's internal...
- Discussion threads 2008-07-01
- Heuristics and Biases: An Excellent Introduction
- Heuristics and Biases: An Excellent IntroductionHeuristics and BiasesThis view on decision analysis and decision making is long overdue in the business world. We have worshipped at the altar of "hard numbers" for the past thirty years and have, for the most part, neglected the reality that people filter and use...
- Discussion threads 2007-07-18
Additional Resources
- Heuristics and Biases: An Excellent Introduction
- My friend Elie Yudkowsky, an extraordinary thinker from the Singularity Institute for Artificial Intelligence, gave me a copy of his paper Cognitive biases potentially affecting judgment of global risks.It is the single best discussion of heuristics and biases within the framework of cognitive psychology I've read. I highly recommend you...
- Blog posts 2007-05-27
- What Are Your Biases and Heuristics?
- The article states that heuristics and biases are ubiquitous because they are innate to human. They apply to customers, colleagues, executives, investors, and any other category to which we assign human beings. To better understand how people's distortions, shortcuts, and biases affect how you market to various stakeholders, one should...
- White papers 2003-07-22
- Performance Characteristics of Hedge Funds and Commodity Funds: Natural vs. Spurious Biases
- It is well known that pro forma performance of a sample of investment funds contains biases. The organization of hedge funds, as private and often offshore vehicles, makes data collection a much more onerous task, amplifying the impact of performance measurement biases. This paper reviews these biases in hedge funds....
- White papers 2000-09-01
- Hedge -Fund Benchmarks: Information Content and Biases
- The article discusses the information content and potential measurement biases in hedge-fund benchmarks. Hedge-fund indexes built from databases of individual hedge funds inherit the measurement biases in the databases. In addition, broad-based indexes mask the diversity of individual hedge-fund return characteristics. Consequently, these indexes provide incomplete information to investors seeking...
- White papers 2002-02-01
- Performance Characteristics of Hedge Funds and Commodity Funds: Natural Versus Spurious Biases
- It is well known that the pro forma performance of a sample of investment funds contains biases. The organization structure of hedge funds, being private and often offshore vehicles, makes data collection a much more onerous task. This amplifies the impact of performance measurement biases. This paper reviews these biases...
- White papers 2000-05-01
- McKinsey's Four Biases of Failure
- Saying goodbye can be a hard thing to do. But it is a necessary part of the creative process and is good management, according to a new McKinsey Quarterly study. Too often, executives stick to what was once thought a bold and brilliant idea. But when the...
- Blog posts 2008-06-27
- Benchmarks of Hedge Funds Performance: Information Content and Measurement Biases
- This paper discusses the information content and potential measurement biases in hedge fund benchmarks. Hedge fund indices built from databases of individual hedge funds inherits their measurement biases. In addition, broad-based indices mask the diversity of individual hedge fund return characteristics. This paper proposes a different approach to constructing hedge...
- White papers 2001-02-01
- Do Behavioral Biases Affect Prices?
- This paper documents strong evidence for behavioral biases among Chicago Board of Trade proprietary traders and investigates the effect these biases have on stock prices. The traders appear highly loss-averse, regularly assuming above-average afternoon risk to recover from morning losses. This behavior has important short-term consequences for afternoon prices, as...
- White papers 2004-03-26
- Hidden biases.(WORLD)(WORLD REVIEW)
- Byline: David Jones, THE WASHINGTON TIMES Hidden biases Does this or any other newspaper that hopes to be taken seriously deliberately slant its news? Certainly not. Do reporters and editors make dozens of small decisions every day that ...
- Research articles 2006-12-10
- Cultural Biases in Economic Exchange
- How much do cultural biases affect economic exchange? The paper tries to answer this question by using the relative trust European citizens have for citizens of other countries. First, it documents that this trust is affected not only by objective characteristics of the country being trusted, but also by cultural...
- White papers 2004-12-01
- Managing Functional Biases in Organizational Forecasts: A Case Study of Consensus Forecasting in Supply Chain Planning
- To date, little research has been done on managing the organizational and political dimensions of generating and improving forecasts in corporate settings. This paper examines the implementation of a supply chain planning process at a consumer electronics company, concentrating on the consensus forecasting approach around which the process revolves. The...
- Case studies 2006-10-10
- Northwest calls on regulators to let competition among Internet sites work for consumers and travel suppliers; Airlines e-commerce chief testifies on Orbitzs positive influence on runaway distribution fees and anti-consumer display biases.
- M2 PRESSWIRE-13 June 2002-NORTHWEST AIRLINES: Northwest calls on regulators to let competition among Internet sites work for consumers and travel suppliers; Airlines e-commerce chief testifies on Orbitzs positive influence on runaway distribution fees and anti-consumer display biases C1994-2002 M2 COMMUNICATIONS LTD ...
- Research articles 2002-06-13
- One of the more amusing features of campaign-finance transparency is that it reveals the political biases of our nation's higher-education institutions
- One of the more amusing features of campaign-finance transparency is that it reveals the political biases of our nation's higher-education institutions. "All Princeton faculty members who have given to 2008 presidential candidates so far have donated to Democrats, according to federal records of donations to presidential campaigns from Princeton University...
- Research articles 2008-04-07
- Fund Liquidation, Self-Selection and Look-Ahead Bias in the Hedge Fund Industry
- A wide range of empirical biases hampers hedge fund databases. This paper focuses upon survival-related biases and disentangles look-ahead biases due to self-selection of funds and due to fund termination. Self-selection arises because funds voluntarily report their information to data vendors and may decide to stop doing so. By extending...
- White papers 2004-11-30
- Deals Without Delusions
- The Idea in Brief Half of all acquiring companies pay more for target firms than they're worth. Often it's because of executives' mental biases: Their interest in a deal keeps them from being objective about its value....
- Articles 2008-04-01
- Alternative Asset Strategies: Early Performance In Hedge Fund Managers
- This paper investigates the effects of age on hedge fund performance. In particular, it seeks to ascertain whether hedge funds perform better during the early stages of their development. Existing studies seem to lack practicality and conclusiveness, with some studies failing to address adequately the issues of survivor and market...
- White papers 2001-11-01
- Should Managers Study the Liberal Arts?
- Here at BNET we have a whole blog dedicated to all things MBA-- all the hows and whys of going to business school. Today on his blog, Marginal Revolution, economist Tyler Cower talks about the ROI on a liberal arts education. What does studying the cultural products of man yield?...
- Blog posts 2007-12-17
- Most Accountants Aren't Crooks—Why Good Audits Go Bad
- The Sarbanes-Oxley Act of 2002, signed into law last July, is the government's response to a series of financial reporting scandals that rocked investors. Among other measures the law offers up stiff criminal penalties for accounting fraud. But in this, it suggest most accounting errors which, aren't the result of...
- White papers 2002-12-09
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