University of Nebraska - Lincoln DigitalCommons@University of Nebraska - Lincoln Finance Department Faculty Publications Finance Department 9-2005 Quantifying Cognitive Biases in Analyst Earnings Forecasts Geoffrey C. Friesen University of Nebraska-Lincoln,
[email protected] Paul Weller University of Iowa,
[email protected] Follow this and additional works at: https://digitalcommons.unl.edu/financefacpub Part of the Finance and Financial Management Commons Friesen, Geoffrey C. and Weller, Paul, "Quantifying Cognitive Biases in Analyst Earnings Forecasts" (2005). Finance Department Faculty Publications. 23. https://digitalcommons.unl.edu/financefacpub/23 This Article is brought to you for free and open access by the Finance Department at DigitalCommons@University of Nebraska - Lincoln. It has been accepted for inclusion in Finance Department Faculty Publications by an authorized administrator of DigitalCommons@University of Nebraska - Lincoln. Quantifying Cognitive Biases in Analyst Earnings Forecasts Geoffrey Friesen* University of Nebraska-Lincoln
[email protected] Paul A. Weller** University of Iowa
[email protected] September 2005 * Department of Finance, University Of Nebraska-Lincoln, 237 CBA, Lincoln, NE 68588-0490. Tel: 402.472.2334. Fax: 402.472.5140 ** Department of Finance, Henry B. Tippie College of Business, University of Iowa, Iowa City, IA 52242- 1000. Tel: 319.335.1017. Fax: 319.335.3690. We would like to thank Gene Savin, Matt Billett, Anand Vijh, Ashish Tiwari, Gary Koppenhaver, Jim Schmidt and seminar participants at the University of Iowa, University of Nebraska-Lincoln, Iowa State University, Northern Illinois, SUNY at Albany and the 2003 FMA Annual Meeting for helpful comments. We are grateful to I/B/E/S International Inc. for providing the earnings forecast data under their Academic Research Program.