Another sign of stupidity is now cropping up in the Australian blogs: the locution "you are bias", meaning "you are biased".
The markets interpreted this particular piece of mumbling incoherence as a "neutral bias"—meaning no predisposition to further rate rises.
Food psychologists talk about "unit bias" meaning that we are inclined to think that a portion equals one of something, no matter what the size.
The markets are also probably afflicted with what is known as loss-aversion bias, meaning that the pain of losing $1 far exceeds the pleasure of making $1.
Aberdeen's two newspapers regularly run articles complaining about "central-belt bias", meaning that the city gets a raw deal compared with Edinburgh and Glasgow.
To make matters worse, the prefrontal cortex has a novelty bias, meaning that its attention can be easily hijacked by something new – the proverbial shiny objects we use to entice infants, puppies, and kittens.
"They may have suffered from the everyday phenomenon of cognitive bias, meaning that they unconsciously discounted evidence of innocence because it was inconsistent with their prior view of the case, or they were motivated to think of themselves as people who only pursued the guilty".
Another reason may be Berkson's bias, which describes an ascertainment or sampling bias, meaning that patients with sleep disorders and complaints of headache may more likely to be referred to a sleep study than patients with sleep disorders alone [35].
