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Showing 1 to 2 of 2 for “"Pessimistic prior"”.
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When Do Signals Counteract The Effects of Confirmation Bias? Evidence From Sell-Side Analysts’ Forecasts
… deciles of high signals interacted with prior negative forecast bias in a dynamic panel data model. I find that analysts underreact to favorable signals when the prior is pessimistic, except for sufficiently strong signals which cause analysts to issue more optimistic target prices. Also, …
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Essays on equity research and informational decisions
Estudio empíricamente cómo funciona el sesgo confirmatorio para señales fuertes y contradictorias utilizando datos de analistas del lado de la venta. Primero modelé un agente que es propenso al sesgo confirmatorio y cuya tarea es valorar un stock basado en una señal, e introduzco los efectos de la …