The ostrich bias is a tendency to close oneself off from the information aka stick their heads inside the sand just like the ostrich does. What does this mean in finance? The effect occurs when the person spends without much of thought and they do not know their finances. They have no idea what comes in and what goes out. They also do not know where the money is going. They hide from the truth, they bury their heads into the sand hoping the money problems will just go away and subside on its own.
The Ostrich Bias
The Ostrich Bias
The Ostrich Bias
The ostrich bias is a tendency to close oneself off from the information aka stick their heads inside the sand just like the ostrich does. What does this mean in finance? The effect occurs when the person spends without much of thought and they do not know their finances. They have no idea what comes in and what goes out. They also do not know where the money is going. They hide from the truth, they bury their heads into the sand hoping the money problems will just go away and subside on its own.