|
|
Cognitive Biases in Legal Thinking
Zaklaiová, Vanda ; Žák Krzyžanková, Katarzyna (advisor) ; Maršálek, Pavel (referee)
Cognitive Biases in Legal Thinking Abstract This diploma thesis addresses the phenomenon of cognitive biases in legal thinking, i.e., it connects the latest findings in psychology and behavioural economics with various areas of law. It aims to introduce selected illusions of mind to the reader, especially those most significantly affecting not only judges, forensic experts or attorneys, but also legislators and policy-makers, as well as general public when they come into contact with law. The thesis also presents ways of eliminating the negative influence of biases on law and justice (to the extent possible), and even suggests appropriate use of them for the benefit of the society as a whole. The thesis is therefore a review study, mostly based on the analysis of dozens of empirical studies, which on one hand informs the readers about the errors resulting from the cognitive biases, and on the other hand encourages application of the proposed methods of eliminating the negative impact of errors in readers' own legal practice - or at least encourages them to take the analysed biases into account. The introduction briefly explains why lawyers should take the latest findings in the field of cognitive and behavioural sciences into account. Furthermore, it explains what heuristics and cognitive biases are, and...
|
|
|
Psychological aspects of evidence assessment
Hurych, Jan ; Kosek, Jan (advisor) ; Agha, Petr (referee)
Psychological aspects of evidence evaluation: Abstract The diploma thesis focuses on the topic of judging and decision-making within the process of evidence evaluation. Its main goal is to identify and describe cognitive illusions which can have a negative impact on the process of evidence evaluation. The mutual position of psychology and law in also considered within introductory chapters. The decision making of the judges is initially described by theoretical models. Three cognitive illusions that are essential for evidence evaluation are described in the following chapter. It is anchoring heuristic, hindsight bias and confirmation bias. Eventually risks, which these cognitive illusions represent for evidence evaluation, are described and forms of countermeasures are discussed. One chapter of the thesis is devoted to the description of ego depletion, which could pose another limit for the process of evidence evaluation. Ego depletion describes decline of self-control in cases which demand conscious effort. The judges are probably in a risk of ego depletion. This phenomenon can lead to higher vulnerability towards cognitive illusions and stronger tendency to maintain status quo. Possible countermeasures are described and discussed on one hand against anchoring, hindsight and confirmation bias and on the...
|
|
|
Role of Behavioral Finance in Portfolio Investment Decisions: Evidence from India
Subash, Rahul ; Báťa, Karel (advisor) ; Jandík, Tomáš (referee)
I Role of Behavioral Finance in Portfolio Investment Decisions: Evidence from India Abstract Extreme volatility has plagued financial markets worldwide since the 2008 Global Crisis. Investor sentiment has been one of the key determinants of market movements. In this context, studying the role played by emotions like fear, greed and anticipation, in shaping up investment decisions seemed important. Behavioral Finance is an evolving field that studies how psychological factors affect decision making under uncertainty. This thesis seeks to find the influence of certain identified behavioral finance concepts (or biases), namely, Overconfidence, Representativeness, Herding, Anchoring, Cognitive Dissonance, Regret Aversion, Gamblers' Fallacy, Mental Accounting, and Hindsight Bias, on the decision making process of individual investors in the Indian Stock Market. Primary data for analysis was gathered by distributing a structured questionnaire among investors who were categorized as (i) young, and (ii) experienced. Results obtained by analyzing a sample of 92 respondents, out of which 53 admitted to having suffered a loss of at least 30% because of the crisis, revealed that the degree of exposure to the biases separated the behavioral pattern of young and experienced investors. Gamblers' Fallacy, Anchoring and...
|
guest ::
