's presence. Monetary incentives reduce the average bias to one-third of its original value. Additionally, the average anchor bias … abilities are on average less biased toward the anchor when task complexity is high. The anchoring bias in our repeated game is …

future. In addition, we draw on some contemporary measures of forecast quality (prediction-realization diagram, test of …

prior returns. This paper extends similar tests to examine management forecast characteristics. We find that, in contrast to … analyst forecast errors, management forecast errors cannot be predicted by prior returns or accruals. We also document that …

We find that the salience distortions of past fundamental information significantly predict future analyst forecast … forecast errors are more pronounced in firms with opaque earnings. Moreover, the dispersion of analyst forecasts is …

is a strong predictor of economic surprises, suggesting that forecasters behave strategically (rational bias) and possess … strongly depend on economic releases being inflation- or growth-related. Yet, when forecasters fail to correctly forecast the … direction of economic surprises, regret becomes a relevant cognitive bias to explain asset price responses. We find that the …

We examine whether management earnings forecast errors exhibit serial correlation and how analysts understand the … serial correlation property of management forecast errors. Management forecast errors should not exhibit serial correlation … if managers efficiently process information in prior forecast errors and truthfully convey their earnings expectations …

forecasts is found to be correlated with indicators of bias in a manner consistent with investors discounting optimistic …

are traditional NFL betting markets, then this price bias should be mitigated. We find that while price biases disappear …

We address whether analysts bias earnings forecast revisions and convey the bias using forecast revision consistency, i … forecast revision consistency to convey information about bias in their earnings forecast revisions ….e., the extent to which analyst reports with earnings forecast revisions include stock recommendation and target price …

inflation) account for 80% of short-rate forecast error variance, with more than half of that number attributed to the Fed … easing more aggressively than the public expected. Short-rate forecast errors induce ex post predictability of excess returns …