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Alan Auerback, an economist at the University of California, Berkeley, commented, "I've become convinced that there's a pervasive tendency towards overoptimism in both agencies" (Sessel, 1995).
2010) for the Netherlands leads us to conjecture that tighter national fiscal rules, which serve as a self-enforced commitment device implying that the Ministry of Finance takes more responsibility for "prudent" fiscal outcomes, produce less overoptimism at the nowcast stage and, hence, revision errors that are smaller in absolute magnitude.
Massive domestic credit growth and large cross-border banking flows, spurred by overoptimism or distortions in the domestic credit markets, led to real estate bubbles in these countries, which in turn translated into large real appreciations.
Recently, most took a substantial hit in income and net worth because of an overoptimism of appraisals.
Finally, excess cooperation and overoptimism create perversely
cautioning against overoptimism due to the upheavels that eurozone saw because
This suggests that we should expect to see overoptimism for the stocks in our optioned sample, and downward earnings revisions during the fiscal year.
Also: probability neglect and availability heuristic may lead to overpessimism and thus overprecaution, whereas selective optimism and overconfidence could lead to overoptimism and thus underprecaution.
The report warned against overoptimism, however, and said there was risk of another slight dip in activity in the first three months of next year.
44) Rollo opens by replicating this sense that uneducable nature, bad estate planning on the part of the late ruler, and overoptimism about Rollo's mentality have combined to make an untenable situation.
But they reported: "Persistent overoptimism and under-estimation of the technical challenge, combined with inappropriate commercial arrangements, led to burgeoning costs and serious delays.