I was reading a book by a friend, Professor Hersh Shefrin of the Leavey School of Business at Santa Clara University, on how managers in companies can apply principles of behavioral finance to make better decisions, and came across a *great* table. In it, Prof. Shefrin lists all of the common sources of behavioral bias that people commonly find themselves subject to. Much of the book is about forecasting, which is actually a critical part of the SEO process; forecasting the potential for a website gives an indication of how valuable SEO efforts will be, and puts some boundaries around what constitutes a reasonable amount of effort.
With his permission, I’ve reproduced the table below with an additional column that suggests how these biases are relevant to our industry. Overall, it makes for a cautionary warning – before diagnosing a website, perhaps we should diagnose ourselves… Read on »