Add/Modify Defination
👽 Cognitive Biases

Familiarity Bias

the tendency for individuals to prefer what is familiar and to seek to avoid the unknown.

Ex: An investor puts her money in “what she knows”, rather than seeking the obvious benefits from portfolio diversification. Just because a certain type of industry or security is familiar doesn’t make it the logical selection.

Categories:
👽 Cognitive Biases
Related Definition:
Cognitive Biases Definition
More Description:
Ex: An investor puts her money in “what she knows”, rather than seeking the obvious benefits from portfolio diversification. Just because a certain type of industry or security is familiar doesn’t make it the logical selection.

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