Definition, Meaning & Synonyms
lfb
Abbreviation
/ˌɛl ɛf ˈbiː/
Definition
LFB is an abbreviation for ‘low-frequency bias’, a term used in various contexts, including data analysis and behavioral studies.
Examples
- Many investors fall victim to LFB, ignoring rare but significant market fluctuations.
- In behavioral psychology, LFB can influence decision-making when assessing risks.
Meaning
It refers to a tendency to underestimate the probability of low-frequency events or occurrences.
Synonyms
- Low-frequency mistake
- Rare event bias
