Annotation
literal: 01/03/24

Annotation
literal: Marco Lamorte

Annotation
literal: The Illusion of validity module of the cognitive bias ontology

Annotation
literal: Illusion of validity ontology

Annotation
literal: The “Illusion of Validity” is a cognitive bias where individuals overestimate their ability to accurately interpret and predict outcomes when analyzing a set of data, especially when the data show a consistent pattern

Annotation
literal: "John, a seasoned investor, relies on his perceived competence and past successes to make investment decisions, often ignoring the influence of unpredictable factors."

DataPropertyAssertion
literal: false

AnnotationAssertion
abbreviated IRI: activitypattern:produces
literal: Define the relation between an activity and its produced outcome.

AnnotationAssertion
abbreviated IRI: term:isEngagedIn
literal: Because an activity may engage other participants than the one performing it, engagements are in general considered individual rather than collective, therefore each participants has their own engagement and only some of them will be conscious and/or documented.

AnnotationAssertion
IRI: http://ontologydesignpatterns.org/cp/owl/participation.owl#isParticipantIn
literal: Define the participation of an entity in a process.

AnnotationAssertion
IRI: http://semantic.cs.put.poznan.pl/ontologies/newsreportingevent.owl_#owns
literal: This property can be used to link a certain NewsProvider with a Media that the NewsProvider ows, e.g. Fox News Channel is owned by Fox Entertainment Group, which also owns other Media (FXX Channel, etc.). This is an universal property, it can be also used in different context (e.g. Ruslana owns a Persian cat).

AnnotationAssertion
abbreviated IRI: fao:affects
literal: X <affects> Y. Agent X acts on object Y in such a way that Y changes state or location.

AnnotationAssertion
abbreviated IRI: action:Action
literal: The process of doing something. An action is performed by an agent. An action can be proposed (proposed actions make up a plan), implemented or abandoned, and it has a status and possibly one or more suspension periods.

AnnotationAssertion
abbreviated IRI: action:Action
literal: Action

AnnotationAssertion
abbreviated IRI: action:hasConsequence
literal: A causal relation between actions, i.e. one action is the cause of another action. For example, the action of "swimming" is a consequence of "jumping into deep water". The property is transitive.

AnnotationAssertion
abbreviated IRI: dbr:Knowledge
literal: Knowledge can be defined as awareness of facts or as practical skills, and may also refer to familiarity with objects or situations. Knowledge of facts, also called propositional knowledge, is often defined as true belief that is distinct from opinion or guesswork by virtue of justification.

AnnotationAssertion
abbreviated IRI: dbr:Knowledge
literal: Knowledge

AnnotationAssertion
abbreviated IRI: cbo:Outcome
literal: Outcome

AnnotationAssertion
abbreviated IRI: cbo:Outcome
literal: The final result of an activity.

AnnotationAssertion
abbreviated IRI: cbo:PerceivedValidity
literal: It assess the perceived validity of an object due to a perception activity

AnnotationAssertion
abbreviated IRI: cbo:PerceivedValidity
literal: Perceived validity

AnnotationAssertion
abbreviated IRI: cbo:hasAttribute
literal: Connects an object to one of its attributes.

AnnotationAssertion
IRI: #Biased_investement
literal: John continues to invest based on his overconfident strategy, relying on the Illusion of Validity bias. Despite occasional market fluctuations, he attributes any success to his perceived expertise rather than considering the role of unpredictable factors or external influences.

AnnotationAssertion
IRI: #Expert_investor
literal: John, an hypotetical biased investor

AnnotationAssertion
IRI: #Investor_PerceivedValidity
literal: The investor's perception of validity in his previous knowledge and consequentially his predictions.

AnnotationAssertion
IRI: #Investor_predicting
literal: The predicting process taken on by the investor to calculate the future possible outcome of his investement.

AnnotationAssertion
IRI: #Investorship_knowledge
literal: The previous knowledge on the field which the investor owns and relies on.

AnnotationAssertion
IRI: #Negative_outcome
literal: The final result given by the investement choices.

AnnotationAssertion
IRI: #Positive_outcome
literal: The positive outcome John expects to get as result of his predicting process

AnnotationAssertion
abbreviated IRI: fs:Expectation
literal: Words in this frame have to do with a Cognizer believing that some Phenomenon will take place in the future. Some words in the frame (e.g. foresee.v) indicate that the Phenomenon is asserted also to be true, while others do not.

AnnotationAssertion
abbreviated IRI: fs:Expectation
literal: Expectation

AnnotationAssertion
abbreviated IRI: fs:Identicality
literal: A Current_instance of a certain Type is under discussion. This instance is evaluated as being the same instance or a different instance from a Previous_instance encountered in a Previous_context.

AnnotationAssertion
abbreviated IRI: fs:Identicality
literal: Identicality

AnnotationAssertion
abbreviated IRI: fs:People
literal: This frame contains general words for Individuals, i.e. humans. The Person is conceived of as independent of other specific individuals with whom they have relationships and independent of their participation in any particular activity.

AnnotationAssertion
abbreviated IRI: fs:People
literal: People

AnnotationAssertion
abbreviated IRI: fs:Predicting
literal: A Speaker states or makes known a future Eventuality on the basis of some Evidence.

AnnotationAssertion
abbreviated IRI: fs:Predicting
literal: Predicting