Stereotyping bias

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Chapter 9 in On the Methodology of Financial Economics, 2023, pp 227-245 from Edward Elgar Publishing

Abstract: The purpose of this chapter is to show that different research methodologies have different implications with respect to the stereotyping attitude of the researcher. In the dual-process social psychology of stereotyping, a continuum with two extreme processes of effortless “heuristic” and effortful “systematic” is considered. Whereas the former, “heuristic,” process is more prone to bias and stereotyping, the latter, “systematic,” process tends to reduce the bias and stereotyping. This chapter emphasizes that not all “systematic” alternatives reduce the bias and stereotyping to the same extent. More specifically, this chapter paradigmatically compares two academic research methodologies - one based on the “scientific” worldview (i.e., functionalist paradigm), and the other based on the “clinical” worldview (i.e., interpretive paradigm) - and shows that, logically, it is more likely that the “clinical method” would reduce bias and stereotyping more than the “scientific method.” This implies that the use of a multi-paradigmatic approach would minimize stereotyping bias.

Keywords: Economics and Finance; Law - Academic (search for similar items in EconPapers)
Date: 2023
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