Quantifying Cognitive Biases in Analyst Earnings Forecasts

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Text mining for market prediction: A systematic review (2014, background): “Market participants have cognitive biases such as overconfidence, overreaction, representative bias, information bias, and various other predictable human errors in reasoning and information processing (Friesen & Weller, 2006).”
Overconfidence in Psychology and Finance - An Interdisciplinary Literature Review (2008, unknown): “This has been found already by Gigerenzer et al. (1991) and is sometimes used as an argument to reduce the effect of overconfidence as such.”
Investor Overconfidence and the Forward Premium Puzzle (2011, unknown): “The estimated value for a in Table 3 of Friesen and Weller (2006) is 0.94 with a standard error of 0.027.”
The Financial Analyst Forecasting Literature: A Taxonomy with Suggestions for Further Research (2008, unknown): “27 Friesen and Weller (2006) develop a model of behaviorally biased analyst forecasts due to overconfidence and cognitive dissonance of individual analysts.”