Overview
A form of selection bias. In WWII, Abraham Wald (Statistical Research Group, Columbia) argued that armour should go where returning bombers had *no* hits, since planes hit there did not return. Other examples: fund performance excluding closed funds, dropout success stories, “old things were built better”. Ask what is missing from the data. See availability heuristic.
Frequently asked questions
- How is it different from confirmation bias?
- It stems from filtered data, not selective seeking.
References
- Mangel, M., & Samaniego, F. J. (1984). Abraham Wald’s work on aircraft survivability. Journal of the American Statistical Association, 79(386), 259–267.
- Brown, S. J., Goetzmann, W., Ibbotson, R. G., & Ross, S. A. (1992). Survivorship bias in performance studies. Review of Financial Studies, 5(4), 553–580.
