Expert Biases

From Open Risk Manual


Expert Biases in risk management context denote any of the psychological phenomena associated with the formulation of qualitative and/or quantitative risk estimates of risk.

The list includes the following notable biases identified by Prospect Theory[1]:

A full list with examples is given in the Risk Management Biases List page
  1. Kahneman, D. & Tversky, A. (1979). Prospect theory: an analysis of decision making under risk, Econometrica 47