“High Oil Price Due To Demand”March 7, 2011 2:18 pm
Looking for a solid example of confirmation error? How about this one – “He blamed the rise in oil and global commodities prices on strong demand from fast-growing countries such as China, not on the Fed’s stimulus policy”.
And this one too: “Political upheaval in the Middle East, Bernanke said, has caused oil and gasoline prices to march higher.”
Confirmation Error Definition: “you look for instances that confirm your beliefs, your construction (or model) –and find them.”