Question

In the S&P 500 forecasting exercise,many subjects seemed to be the subject to the representativeness heuristic.This concept of behavioural finance posits that

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Answer:

In the representativeness heuristic, the probability that Steve is a librarian, for example, is assessed by the degree to which his is representative of, or similar to, the stereotype of a librarian," Tversky and Kahneman explain

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