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Podcast: The Property Trio (formerly The Property Planner, Buyer and Professor)
Episode: #134: Behavioural economics 101 - tackling the biases that impact our property and investment decisions
Description: https://propertyplanning.com.au/propertyplannerbuyerprofessor/ In this week's episode Dave, Cate and Pete take you through: How does bias impact our financial decisions? Behavioural biases are defined as unconscious beliefs that influence our decisions. In the field of finance, behavioural bias is a study that focuses on psychological factors that influence the decisions of investors. There are some 180 recognised biases and unfortunately we can't unpack them all, however the trio have picked the top 6 biases to investigate. Bias 1 - Mental accounting Mental accounting refers to the concept where people treat money differently depending on where it came from and what...