= 27d567bc2d48d9f40e9ccc20ea370b15)
VijayKrishnan comments on Fight Zero-Sum Bias - Less Wrong
You are viewing a comment permalink. View the original post to see all comments and the full post content.
= 783df68a0f980790206b9ea87794c5b6)
Loading…= b715d02e85f7b3b4ae65ca3d3e450868)
Subscribe to RSS Feed
Powered by Reddit
= f037147d6e6c911a85753b9abdedda8d)
You are viewing a comment permalink. View the original post to see all comments and the full post content.
Comments (153)
The ridiculous amount of activity by the untrained and uninformed on the stock markets seems to suggest that people could use a significantly higher amount of "zero sum" bias there. There are tons of people who would not peg their investment skill in the top 1%, who nonetheless think they have a good chance of making money in short term trades. There certainly seems to be the thinking that the stock market is a source of profits for one and all, regardless of investment skill and understanding.
This bias however is most prevalent in the idea that getting rich cannot possibly be a noble act, a point extensively addressed in Paul Graham's essays.
Actually, in regards to your first point, I suspect that people do have an intuitive sense that playing the stock markets is a zero-sum game.
I think that the main reason that people exhibit irrational stock market behavior is overconfidence bias.
Great points. I will link this comment in my next post.