Availability bias, for example, could apply to the way investors overreact to recent news such as a spike in volatility or a bad European government bond auction.

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The availability bias means that we each think that we contribute more to a group than others, because our individual effort is more noticeable to us.

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Kahneman, often working with a fellow academic, the late Amos Tversky, described many of the core concepts of behavioral finance, including: loss and regret aversion, representativeness, anchoring and adjustment, and availability bias.

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