Expert Biases
From Open Risk Manual
Definition
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]:
- ↑ Kahneman, D. & Tversky, A. (1979). Prospect theory: an analysis of decision making under risk, Econometrica 47
