Social Science Bites

How hard do we fight against information that runs counter to what we already think? While quantifying that may be difficult, Alex Edmans notes that the part of the brain that activates when something contradictory is encountered in the amygdala - “that is the fight-or-flight part of the brain, which lights up when you are attacked by a tiger. This is why confirmation can be so strong, it's so hardwired within us, we see evidence we don't like as being like attacked by a tiger.”  In this Social Science Bites podcast, Edmans, a professor of finance at London Business School and author of the just-released May Contain Lies: How Stories, Statistics, and Studies Exploit Our Biases – And What We Can Do About It, reviews the persistence of confirmation bias -- even among professors of finance.  “So, what is confirmation bias?” he asks host David Edmonds. “This is the temptation to accept something uncritically because we'd like it to be true. On the flip side, to reject a study, even if it's really careful, be