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Recency bias

Recency bias, also known as the recency effect, is a cognitive bias that favors recent events or information over more distant ones in memory and decision-making. The recency effect specifically describes the tendency in memory recall to better remember items at the end of a list, while recency bias refers to how this distorts judgments by overweighting recent data.^[1] It is part of the broader serial position effect, where recall is stronger for items at the beginning (primacy effect) and end (recency effect) of a sequence, compared to the middle. This arises mainly from short-term memory (STM), where recent information remains accessible for seconds to minutes unless rehearsed or transferred to long-term memory.^[2] Recency bias influences decisions across various domains, often leading to suboptimal outcomes by prioritizing recent events. For example, it can cause investors to overreact to short-term market fluctuations or evaluators to undervalue long-term performance in reviews.^[2] Awareness of the bias and techniques like reviewing full timelines can help mitigate its effects.^[3] Understanding recency bias underscores the limitations of human memory and informs strategies in psychology, business, and beyond.

Definition and Characteristics

Definition

Recency bias is a cognitive bias characterized by the tendency of individuals to place undue emphasis on the most recent events, information, or experiences when forming judgments, making predictions, or evaluating outcomes, often undervaluing or overlooking earlier data of comparable relevance.^[2] This distortion occurs because recent stimuli remain more salient and accessible in working memory, leading to an overreliance on them in decision processes across diverse contexts. In contrast to the recency effect—a memory phenomenon where the final items in a sequence are recalled more accurately due to their persistence in short-term memory—recency bias extends beyond mere recall to produce systematic errors in reasoning and choice, where the heightened availability of recent inputs skews overall assessments rather than simply affecting retrieval fidelity.^[4] For instance, while the recency effect explains why people remember the end of a list better in laboratory tasks, the bias manifests when this recall pattern inappropriately influences broader inferences, such as probabilistic estimates or value judgments.^[2] The scope of recency bias encompasses a wide array of applications in perceptions, forecasts, and evaluations, influencing how people interpret patterns in personal experiences, professional assessments, and probabilistic reasoning in both everyday and specialized settings.^[5] As a subset of the availability heuristic, it highlights how the ease of accessing recent mental representations can systematically bias decision-making toward temporal proximity over comprehensive evidence.

Key Characteristics

Recency bias manifests primarily through the overweighting of recent information, which distorts perceptions by assigning disproportionate importance to the latest data or events over earlier ones that may be equally relevant. This leads to skewed judgments where individuals rely more heavily on what is fresh in memory, often resulting in an incomplete or biased view of overall patterns. For instance, in decision-making processes, people exhibit a tendency to weight recent outcomes more strongly, with response rates to a choice increasing to around 60% if it was reinforced in the immediate prior trial compared to 40% otherwise.^[6] A key outcome of this trait is the inclination to extrapolate recent trends into future expectations, such as projecting short-term market fluctuations as long-term indicators, which can amplify perceived risks or opportunities based on limited recent evidence.^[7] The bias varies in strength depending on contextual factors, particularly the time frame of recall and the emotional charge of the events involved. In short-term contexts, such as immediate free recall tasks, recency effects are pronounced because recent items linger in working memory, yielding higher recall probabilities for the last few positions in a sequence; however, this effect diminishes in long-term recall scenarios, where a delay or distraction reduces the advantage of recency to levels comparable to mid-list items.^[8] Additionally, the emotional intensity of recent events can heighten the bias, as emotionally charged experiences—such as recent financial losses—are more salient and thus overweighted, leading to stronger distortions in risk assessment compared to neutral recent information.^[7] Measurable indicators of recency bias include observable patterns like the "hot hand" fallacy, where individuals perceive streaks of success in independent sequences as evidence of ongoing momentum, driven by positive recency in evaluating recent performance fluctuations. This is evident in experiments where beliefs in ongoing success increase following recent successful runs, even in random processes.^[9] Another indicator is overreaction to the latest information, such as news events, which prompts exaggerated adjustments in beliefs or behaviors disproportionate to the event's objective weight.^[7] While recency bias overlaps with primacy bias in the broader serial position effect—where both ends of a sequence are favored in recall—it is distinctly characterized by favoring the most recent items due to short-term memory accessibility, whereas primacy bias emphasizes initial items transferred to long-term storage through rehearsal.^[8] This differentiation highlights recency's sensitivity to immediacy rather than enduring first impressions.

Psychological Mechanisms

Memory and Recall Processes

The serial position effect refers to the tendency in free recall tasks for individuals to remember items at the beginning (primacy effect) and end (recency effect) of a list more accurately than those in the middle. The recency effect specifically arises because the most recently presented items remain in short-term memory, making them readily accessible for immediate retrieval without interference from subsequent processing. This phenomenon was demonstrated in classic experiments where participants listened to lists of words and then freely recalled them; recall probability for the last few items was significantly higher, attributed to their persistence in a temporary storage system that holds information for seconds to minutes.^[10] In working memory dynamics, recent information maintains heightened activation in short-term storage, which facilitates its dominance in judgments and recall over older, less active traces. This activation stems from the phonological loop and central executive components of working memory, where recent stimuli are rehearsed and protected from decay or overwriting by new inputs, thereby biasing cognitive processing toward the present. Such dynamics explain why recency influences immediate decision-making, as the brain prioritizes actively maintained representations in limited-capacity buffers.^[11] The forgetting curve, first quantified by Hermann Ebbinghaus, illustrates how memory retention declines rapidly over time, with older information decaying faster than recent material, thereby amplifying the recency effect. Ebbinghaus's experiments showed that savings in relearning decreased exponentially after initial exposure, such that after one hour, approximately 50% of learned material was forgotten, while recent events retained higher retrievability due to minimal decay. This temporal gradient integrates with recency bias by making distant memories harder to access compared to those still fresh in short-term storage.^[12] Empirical evidence from laboratory experiments consistently supports the recency effect's impact on recall accuracy. In Glanzer and Cunitz's study, introducing a distractor task (e.g., digit counting) immediately after list presentation eliminated the recency portion of the serial position curve, confirming that recent items' superior recall (up to 70-80% accuracy for the last positions versus 30-40% for middle ones) depends on undisturbed short-term storage rather than long-term consolidation.^[10]

Cognitive Heuristics

Recency bias interacts with cognitive heuristics, which are mental shortcuts that enable quick decision-making but often introduce systematic errors in judgment. One primary linkage is with the availability heuristic, where individuals assess the probability or frequency of events based on the ease with which examples come to mind. Recent events are more readily recalled due to their proximity in time, leading to an overestimation of their likelihood or importance compared to more distant occurrences. This bias arises because memory retrieval favors vivid or recent instances, distorting probabilistic reasoning.^[13] For instance, experimental evidence shows that manipulating the recency of items in a list influences frequency judgments through heightened availability, even without explicit recall.^[14] An overlap exists with the representativeness heuristic, wherein recent patterns or events are disproportionately viewed as indicative of broader categories or future outcomes, bypassing base-rate information. This occurs when the salience of recent stimuli leads people to judge the representativeness of an event by its similarity to immediately accessible prototypes shaped by proximity in time, rather than comprehensive data. Such judgments can amplify recency effects by treating short-term trends as emblematic of general truths, contributing to errors in categorization and prediction. Within the framework of bounded rationality, recency bias serves as a satisficing strategy under cognitive constraints, where limited time and information-processing capacity prompt reliance on recent data as a proxy for thorough analysis. Proposed by Herbert Simon, bounded rationality acknowledges that humans deviate from perfect optimization by using simple rules to achieve adequate decisions; in time-pressured scenarios, recent information becomes a computationally efficient heuristic, though it skews outcomes away from equilibrium predictions. This role is evident in decision models where recency influences non-equilibrium behavior, as agents overweight current signals to navigate complexity. Neural correlates of recency bias involve brain regions that prioritize novel or recent stimuli, particularly the prefrontal cortex (PFC), which supports working memory and temporal ordering of events. Functional neuroimaging studies indicate that the PFC, including dorsolateral and ventrolateral areas, activates during recency judgments, facilitating the recollection of temporal context but also biasing toward recent items through enhanced salience processing. This prioritization aids rapid adaptation but can perpetuate bias by diminishing attention to older information. As a prerequisite, these heuristics draw on memory processes to make recent events more accessible for judgment.^[15]

Applications and Examples

In Finance and Investing

Recency bias significantly influences investment chasing in financial markets, where investors disproportionately favor assets exhibiting strong recent performance, often extrapolating short-term trends into future expectations. This leads to a pattern of buying assets at peak valuations after surges, such as the post-2020 market rallies in technology sectors, and subsequently underperforming as trends revert. Behavioral finance research attributes this to investors overweighting recent positive returns in fund selection, with experimental evidence showing that visual emphasis on fees can reduce such biases by increasing allocations to lower-fee funds.^[16] In portfolio evaluation, recency bias causes investors to overemphasize short-term returns while discounting long-term historical data, resulting in skewed assessments of asset quality and risk. For instance, individual investors typically sell recently acquired losing stocks rather than older ones, as the former remain more salient in memory, leading to inefficient tax-loss harvesting and portfolio imbalances. A large-scale analysis of brokerage data reveals that this bias is mitigated during year-end tax-driven reviews, where investors sell longer-held losers (median holding period of 10.7 months in December versus 5.57 months otherwise), increasing the probability of disposing of older positions by 0.3% per additional month held.^[17] Such errors contribute to suboptimal diversification, as investors chase momentum in recent winners without considering underlying fundamentals. Recency bias plays a pivotal role in fueling market bubbles and crashes by amplifying reactions to recent events, fostering irrational exuberance among participants. During the 2021 meme stock frenzy, retail investors driven by social media hype piled into stocks like GameStop after observing explosive short-term gains—shares surged over 1,500% in January alone—ignoring historical valuations and leading to extreme volatility and subsequent sharp declines. Similarly, in the lead-up to the Global Financial Crisis, recency-biased learning caused investors to overweight recent dividend growth data, inflating S&P 500 price-dividend ratios and replicating the observed boom-bust cycle more accurately than rational expectation models.^[18]^[19] Quantitative studies provide robust evidence of recency bias's impact, demonstrating elevated trading volumes and volatility following recent positive news. Analysis of international stock data across 49 countries shows that the recency ordering of historical returns predicts cross-sectional future returns, with stocks exhibiting recent underperformance generating abnormal returns of up to 0.5% monthly as they become undervalued. Additionally, experimental and market data indicate that recency effects increase trading activity by prioritizing recent observations in belief formation, contributing to heightened market fluctuations during momentum-driven periods.^[20]^[21]

In Performance Reviews and Hiring

In performance reviews, recency bias leads managers to overweight recent employee behaviors, often diminishing the influence of earlier accomplishments or shortcomings over an employee's full tenure. This bias is particularly pronounced in annual appraisals, where end-of-period events can overshadow consistent contributions, resulting in distorted evaluations that fail to capture holistic performance.^[22] Such distortions contribute to unfair promotion decisions, as evidenced in HR analyses where recent lapses eclipse sustained excellence, leading to overlooked candidates and inequitable career advancement. For instance, employees demonstrating reliable output throughout the year but facing recent challenges may receive lower ratings, fostering demotivation and perpetuating cycles where steady performers are repeatedly sidelined in favor of those with timely but less representative successes.^[23] Over time, this pattern exacerbates talent retention issues, as undervalued individuals disengage or exit organizations, hindering long-term workforce stability.^[24] In hiring interviews, recency bias favors the most recently discussed candidates due to sharper recall of their details, skewing comparisons against earlier interviewees whose information fades. Empirical research on interview sequencing reveals that a candidate's position in the order significantly influences evaluator judgments, with later slots yielding more favorable or unfavorable assessments based on recency-driven memory accessibility, thereby introducing systematic variability in selection outcomes.^[25] HR case studies underscore these effects in professional settings, such as team performance assessments where the final contributor faces heightened blame for group failures, reducing their promotion or rehiring likelihood despite equivalent roles.^[26] This bias not only distorts immediate hiring choices but also compounds long-term career implications by embedding inequities in talent pipelines, where sequence-dependent perceptions limit opportunities for equally qualified individuals.^[27] Recency bias manifests in personal judgments by leading individuals to overemphasize recent interactions when evaluating relationships, often overshadowing a longer history of positive or neutral experiences. For instance, a single recent argument with a friend may prompt doubts about their overall reliability, despite years of dependable support, as the most recent event remains more salient in memory. This tendency aligns with the broader recency effect observed in impression formation, where later-presented information receives disproportionate weight in social evaluations. Research demonstrates consistent recency biases in behavioral judgments across social domains, with people assigning greater importance to recent actions when assessing others' traits or intentions.^[28] In news consumption, recency bias contributes to the formation of skewed opinions by prioritizing the latest headlines over comprehensive historical context, particularly in political discourse. Viewers or readers may form overly pessimistic or optimistic views on issues like economic policy based on a recent scandal or success, disregarding long-term trends that provide a more balanced perspective. This effect is amplified in fast-paced media environments, where breaking news dominates attention and shapes public sentiment more than archived reports. Studies on cognitive biases in information processing highlight how such overreliance on recent events can distort collective understanding of ongoing societal issues.^[29] Consumer choices are similarly influenced, as individuals often favor products highlighted in recent advertisements or promotions, even when established alternatives offer superior value. For example, a newly launched gadget receiving buzz from the past week's marketing campaigns may eclipse a reliable, long-standing option in decision-making, driven by the heightened accessibility of fresh information. Empirical evidence from online review analyses shows that recent customer feedback exerts a stronger pull on purchase intentions compared to older evaluations, prompting shifts toward trendy items without thorough comparison.^[30] This pattern underscores how recency bias can lead to impulsive buying, favoring novelty over proven efficacy.^[31] In sports and gaming, recency bias fuels beliefs in "hot streaks," where recent successes are extrapolated to predict continued performance, extending elements of the gambler's fallacy into informal wagering or fandom. Fans might bet heavily on a team after a winning run, assuming momentum persists, while ignoring statistical regression to the mean over a season. This cognitive pattern, akin to the hot hand fallacy, has been documented in gambling behaviors, where players overweight short-term outcomes in sequential events like card games or sports matches. Academic investigations confirm that such biases persist in betting markets, leading to overreactions to recent results and suboptimal decisions.^[32]^[33]

Consequences and Implications

Negative Effects on Decision-Making

Recency bias contributes to risk misassessment by prompting decision-makers to undervalue long-term hazards in favor of recent periods of apparent stability, often overlooking cyclical patterns in complex systems like economies. This overemphasis on proximate events leads to underestimation of persistent threats, such as recurring financial downturns or environmental shifts, as historical data fades from immediate recall. For example, in the lead-up to the 2008 financial crisis, investors exhibited recency-biased learning that inflated stock prices through overly optimistic expectations based on short-term gains, ignoring signals of systemic instability.^[19] In strategic business contexts, recency bias drives erroneous pivots toward fleeting trends, resulting in resource misallocation and organizational failure when those trends dissipate. Companies may hastily reorient operations—such as accelerating digital transformations in response to immediate market signals—without integrating broader historical performance data, leading to inefficient investments and competitive disadvantages. Research on cognitive biases in decision support systems underscores how this overreliance on recent information produces suboptimal outcomes, particularly under time pressure or data overload. Socially, recency bias intensifies polarization by magnifying the salience of recent media-driven events, fostering exaggerated perceptions of division while downplaying longer-term shared experiences or resolutions. This selective focus on contemporary conflicts, such as heated political debates, amplifies group antagonisms and hinders constructive dialogue, as individuals project current tensions onto enduring social structures. Empirical evidence highlights the bias's detrimental impact on decision accuracy, with controlled studies showing systematic deviations from optimal choices. In risk assessment tasks involving sequential events, like agricultural planning after droughts, recency bias induced overcautious selections that lowered expected value by 1-2% relative to balanced information conditions, with moderate effect sizes (Cohen's d ≈ 0.16-0.29). Broader analyses confirm that this bias reduces judgment precision across domains, contributing to errors in probabilistic forecasting and resource allocation.^[34]

Potential Positive Aspects

Recency bias can provide adaptive advantages by enabling quick responsiveness to changing environments, particularly in survival contexts where recent threats demand immediate action. For instance, prioritizing recent encounters with dangers, such as predators in ancestral settings, allows individuals to avoid hazards more effectively until evidence suggests the risk has diminished.^[35] This bias aligns with evolutionary pressures in volatile natural environments, where recent experiences often hold higher predictive value for ongoing survival compared to distant events.^[36] In dynamic fields like technology, recency bias supports learning efficiency by emphasizing recent innovations over obsolete information, facilitating faster adaptation to rapid advancements. Studies on category learning demonstrate that recency effects adjust flexibly to environmental structures, such as autocorrelated sequences common in tech development, thereby improving decision-making performance in non-stationary settings.^[37] For example, professionals in fast-evolving industries may more readily integrate the latest tools or methods, enhancing overall productivity when historical data becomes less relevant.^[38] From an evolutionary standpoint, this bias likely conferred advantages in ancestral decision-making amid unpredictable conditions, such as foraging or social interactions, by weighting recent outcomes to guide behavior in correlated environments. Research indicates that humans deliberately modulate recency weighting as a strategy for adapting to dynamic real-world scenarios, where recent data better informs future actions than uniform historical averaging.^[38] Empirical evidence for benefits remains limited but suggests minor gains in fast-paced tasks, including emergency response. In disaster preparedness, recency bias heightens focus on recent incidents, strengthening planning and resource allocation immediately following events like floods or earthquakes, as heightened memory of the threat sustains proactive measures.^[39]

Mitigation Strategies

Building Awareness

Building awareness of recency bias serves as a foundational step in mitigating its influence on decision-making, enabling individuals to recognize the tendency to overweight recent events over longer-term data. Educational programs tailored for professionals play a crucial role in this process, providing structured training on cognitive biases. For instance, workshops and online courses offered by institutions like Harvard University focus on the psychology of decision-making blind spots, teaching participants how to identify and counteract biases through interactive exercises and case studies relevant to leadership and team dynamics.^[40] Similarly, programs at Cornell University's eCornell platform address bias in human resources contexts.^[41] Research from HEC Paris demonstrates that such simple training interventions can significantly improve bias recognition and decision quality among participants.^[42] Self-assessment techniques further enhance personal awareness by encouraging reflective practices that reveal patterns of recency bias in one's own history. A key method involves maintaining a decision journal, where individuals document the rationale behind choices and later review them to assess whether recent outcomes disproportionately influenced perceptions of past performance.^[22] This approach helps uncover instances where recency overshadowed comprehensive evaluation, fostering a habit of balanced recall. By regularly examining these entries, people can spot recurring tendencies, such as prioritizing the latest feedback over sustained contributions, thereby building a more objective self-view. Mindfulness practices contribute to awareness by promoting a deliberate pause in judgment, allowing for the integration of historical data alongside recent inputs. Techniques like mindful breathing or meditation train individuals to observe their thought processes without immediate reaction, reducing the automatic pull of recency in evaluations.^[43] Studies indicate that mindfulness training enhances emotional memory recall and processing efficiency, enabling better consideration of broader contexts over fleeting impressions.^[44] This heightened self-observation equips decision-makers to question initial biases before they solidify. At the organizational level, policies mandating bias training have gained traction through 2020s diversity, equity, and inclusion (DEI) initiatives, providing systemic support for awareness-building. Companies increasingly require annual workshops on cognitive biases as part of DEI programs, aiming to embed bias recognition into workplace culture. A systematic review of peer-reviewed studies from 2000 to 2022 highlights that such trainings, when focused on practical application in DEI contexts, yield measurable improvements in bias awareness and equitable practices.^[45] Recent research from Harvard Business School further shows that tailored DEI trainings, delivered at key decision points, promote inclusive behaviors more effectively than generic sessions.^[46] Evidence from these initiatives underscores that policy-driven education not only raises individual consciousness but also aligns organizational decision-making with long-term objectives.^[47]

Practical Techniques and Tools

One effective approach to countering recency bias involves employing data-driven checklists that incorporate historical datasets and apply weighted averages to balance recent information against long-term trends. In investment contexts, for instance, advisors recommend constructing checklists that allocate greater emphasis to extended historical performance data to prevent overreliance on short-term market fluctuations. This method ensures decisions are grounded in comprehensive evidence, as demonstrated in analyses of stock market behaviors where recency effects distort return predictions without such balancing.^[48]^[49] Deliberative pausing techniques, such as structured decision frameworks like pre-mortems, further aid in mitigating recency bias by prompting individuals and teams to systematically incorporate lessons from past experiences before finalizing choices. A pre-mortem involves imagining a prospective failure and retroactively identifying contributing factors, which encourages reflection on historical precedents and reduces the undue influence of immediate recent inputs. Research indicates that this approach significantly diminishes overconfidence and groupthink, fostering more balanced evaluations that draw on full timelines of prior outcomes. For example, in strategic planning, teams using pre-mortems have reported improved anticipation of risks by explicitly revisiting analogous past scenarios, thereby diluting the skew toward current events.^[50] Technology aids, including software for trend analysis, provide automated mechanisms to detect and flag potential recency skews in data interpretation. Analytics platforms equipped with AI dashboards can scan datasets for disproportionate emphasis on recent observations, alerting users to adjust analyses toward fuller historical contexts—such as by highlighting anomalies in time-series weighting. In financial decision-making, AI tools designed for bias detection analyze group inputs and recommend corrections, ensuring trend visualizations incorporate balanced temporal scopes to avoid recency-driven distortions. These systems promote objectivity by enforcing protocols for historical integration, as applied in statistical software for product analytics.^[51]^[52] Feedback loops that integrate regular reviews of complete timelines offer a robust process for ongoing correction of recency bias, particularly in business settings where performance evaluations are prone to recent-event dominance. By scheduling periodic assessments that compile and revisit full historical records—such as quarterly compilations of employee contributions spanning the entire review period—these loops counteract memory-based skews and promote equitable judgments. In organizational case studies, companies adopting continuous feedback systems, including AI-assisted real-time logging, have improved fairness in performance reviews, leading to higher employee engagement; for instance, one firm's implementation of micro-feedback resulted in a 30% increase in employee engagement. Similarly, mid-year check-ins drawing on documented full-year data have enabled managers to balance recent achievements with earlier accomplishments, enhancing overall decision quality in talent management.^[22]^[53]^[54]^[55]

Historical Development

Early Psychological Observations

The initial recognition of phenomena akin to recency bias appeared in the late 19th century through experimental investigations into human memory, particularly in studies of recall from lists or sequences. Hermann Ebbinghaus, in his seminal 1885 work Über das Gedächtnis, conducted self-experiments using nonsense syllables to measure memory retention and forgetting. While primarily known for the forgetting curve—which demonstrated exponential memory decay over time—Ebbinghaus also observed that in free recall tasks, items presented at the end of a list were more likely to be remembered than those in the middle, an early empirical note on memory decay favoring recent information over earlier material. This recency pattern contrasted with better retention of initial items (primacy), highlighting positional influences on memory without yet framing them as systematic biases.^[56] Building on Ebbinghaus's foundations, early 20th-century researchers expanded these observations in the context of short-term memory processes. Mary Whiton Calkins, in her studies around 1898–1900, examined immediate and delayed recall using paired associates and lists of concrete or verbal items. She documented recency effects, where the temporal proximity of information to the recall test enhanced accessibility, and noted how interpolated activities between presentation and testing diminished this recency advantage. Calkins's work emphasized factors like frequency and vividness alongside recency, providing nuanced insights into how recent stimuli persisted in working memory, though still viewed through the lens of pure memory mechanics rather than judgmental errors. These findings, conducted without the modern concept of cognitive bias, reinforced the idea that recent experiences hold a privileged status in mental representation.^[56] By the mid-20th century, the serial position effect—encompassing both primacy and recency—gained clearer definition through controlled experiments on list recall. Bennet B. Murdock's 1962 study in the Journal of Experimental Psychology analyzed free recall from word lists of varying lengths and presentation rates, revealing a characteristic U-shaped serial position curve: recall probability was highest for the first few and last few items, with a sharp drop in the middle. Murdock attributed the recency portion to items remaining active in a short-term buffer during testing, supported by data showing exponential primacy gradients and linear recency declines across conditions. This research solidified recency as a robust, replicable pattern in memory performance, distinct from long-term storage effects.^[57] These pre-1970s observations in memory studies collectively established the empirical groundwork for understanding recency as a mechanism influencing not just recall but broader cognitive applications, including how recent information could disproportionately shape perceptions and choices in decision-making scenarios. By demonstrating the accessibility of recent stimuli, early psychological work transitioned from isolated memory phenomena to precursors for later explorations of systematic judgmental deviations.^[56]

Key Research Studies and Evolutions

One of the foundational studies distinguishing recency from primacy effects was conducted by Murray Glanzer and Anita R. Cunitz in 1966. In their experiments, participants recalled words from lists under immediate or delayed conditions with distractor tasks; immediate recall showed a strong recency effect for the last items, attributed to short-term memory, while a 30-second delay eliminated this effect, equalizing recall for middle and end positions, thus supporting separate short-term and long-term storage mechanisms.^[10] In the 1970s, Daniel Kahneman and Amos Tversky advanced understanding of recency bias through their work on heuristics in judgment under uncertainty. Their 1973 paper introduced the availability heuristic, where individuals assess event probabilities based on ease of recall, with recent events being more mentally available and thus overweighted.^[58] This concept was further integrated and exemplified in their 1982 edited volume Judgment Under Uncertainty: Heuristics and Biases, which included experiments on probability estimation showing how recency leads to biased predictions, such as overestimating the likelihood of recent disasters.^[59] Post-2000 research evolved recency bias studies toward neuroimaging and behavioral economics applications. Functional MRI studies, such as Konishi et al.'s 2002 experiment, demonstrated that recency judgments activate the prefrontal cortex, particularly during temporal context recollection, highlighting neural mechanisms for prioritizing recent events.^[60] In behavioral economics, Malmendier and Nagel's 2011 analysis of U.S. household data revealed recency bias in macroeconomic beliefs, where personal lifetime experiences—especially recent inflation—shape risk aversion and consumption more than distant historical data, with weights declining exponentially over time since the event.^[61] In the 2020s, research has examined how AI systems exhibit and amplify recency bias in digital decision-making. A 2025 study on large language models found significant recency bias in reranking tasks for information retrieval, where models like GPT-4o favored recent content by up to 40% more than older but relevant items, potentially distorting search outcomes and user decisions in dynamic digital environments.^[62] This evolution underscores recency bias's extension from human cognition to AI-influenced processes, with implications for algorithmic fairness in online platforms.

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This paper examines the recency bias and overreaction in the NFL betting market from 2003 to 2017. Consistent with the recency bias, bettors are more likely ...
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https://www.globalcognition.org/articles/jones-jeplmc03-adaptive-recency-learning.pdf
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https://escholarship.org/content/qt9tt7193t/qt9tt7193t.pdf
[39]
What Is Recency Bias in Investing? - Financhill
From an evolutionary perspective, recency bias might have offered some advantages. If you've seen tigers in one area recently, it's best to avoid that area ...
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Recency Bias: Shaping Customer Experience Through Recent ...
Aug 1, 2024 · Psychologically, Recency Bias operates because our brains are wired to prioritize recent information. This makes sense from an evolutionary ...
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[PDF] An Adaptive Recency Effect in Category Learning - Global Cognition
Thus REs in MCCL were more flexible and adaptive than acknowledged by current theories.Missing: advantages | Show results with:advantages
[42]
[PDF] People Adjust Recency Adaptively to Environment Structure
In the current study, we explore two explanations of recency-based decision making, that it is (1) a deliberate strategy for adaptive decision making in real- ...
[43]
Recency Effect's Role in Disaster Planning and Preparedness
The recency effect is a mental shortcut where recent events are remembered better, causing disaster planning to be stronger after a significant incident.
[44]
Patterns of choice adaptation in dynamic risky environments - NIH
This exercise helps strengthen the conclusions drawn from the model parameters analyses: recency is an individual trait important for adaptation to changing ...
[45]
Make Better Decisions: The Psychology of Blind Spots for Leaders ...
In this interactive course, you will experience the way your mind works, how it influences your decisions, and how you can outsmart it to overcome bias. Self- ...
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Countering Bias in the Workplace for HR - eCornell
In this course, you will learn about the processes that impact the way that individuals interact with people who are demographically dissimilar from them.Missing: workshops | Show results with:workshops
[47]
Yes, You Can Be Trained To Make Better Decisions | HEC Paris
Mar 16, 2020 · New evidence shows how simple training can help us identify these biases and tremendously improve decision making.Missing: workshops | Show results with:workshops
[48]
Three Ways Mindfulness Can Make You Less Biased
May 15, 2017 · Cognitive biases may be partly to blame for prejudice, and research suggests that mindfulness can help us correct them.Missing: recency | Show results with:recency
[49]
Mindfulness Training Alters Emotional Memory Recall Compared to ...
Feb 13, 2012 · Mindfulness training was associated with greater improvements in processing efficiency for positively valenced stimuli than active control conditions.
[50]
A systematic review of diversity, equity, and inclusion and antiracism ...
Oct 19, 2023 · The aim of this systematic review is to evaluate training characteristics, measures, and results of peer-reviewed studies (published between 2000 and 2022) ...
[51]
Rethinking DEI Training? These Changes Can Bring Better Results
Jan 23, 2025 · Tailored, practical diversity trainings offered at the right decision points can yield meaningful change, says new research by Edward H. Chang and colleagues.
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DEI policies work best when they are designed to include everyone ...
Aug 30, 2024 · DEI policies work best when they are designed to include everyone and are backed by evidence · Building a better DEI training · The value of ...
[53]
A Case Study of How Recency Bias Destroyed Investor Wealth
Apr 21, 2023 · Recency bias is the tendency to overweight recent events/trends, projecting them into the future, while ignoring long-term evidence.
[54]
Recency Bias in Investing: Meaning, Impact & How to Avoid it
Jul 15, 2025 · Recency bias in investing is a behavioural tendency where investors place too much emphasis on recent market movements while ignoring long term trends and ...
[55]
Bias Busters: Premortems: Being smart at the start - McKinsey
Apr 3, 2019 · Research shows that premortems reduce teams' overconfidence significantly more than other critiquing and risk-analysis methods do.Missing: deliberative pausing recency
[56]
AI Tools for Detecting Bias in Group Financial Decisions - Lucid.Now
May 4, 2025 · AI tools are revolutionizing group financial decision-making by detecting and mitigating biases for improved outcomes and compliance.
[57]
Overcoming recency bias in data analysis - Statsig
May 19, 2023 · Discover how recency bias can skew statistical insights and learn effective ways to achieve balanced, accurate data analysis.Overcoming Recency Bias In... · Recency Bias In Statistics · Follow Statsig On LinkedinMissing: software flagging
[58]
AI Real-Time Feedback: How AI Is Reinventing Performance Reviews
Oct 6, 2025 · Manager Bias: Evaluations are often influenced by “recency bias” ; the most recent behavior overshadows overall contributions. Generic Feedback ...Missing: timelines | Show results with:timelines
[59]
Performance Reviews in 2025: Why Micro-Feedback is More ...
Apr 17, 2025 · Recency Bias: Managers tend to focus on events from the past few months, neglecting achievements or challenges from earlier in the year.The Post-Pandemic Work... · E -- Energizing Close · Overcoming Common Challenges
[60]
Mid-Year Review Examples for Managers and a Smarter Approach
Apr 18, 2025 · Without a structured system for tracking performance trends and feedback over time, mid-year reviews force managers to rely on their memory.<|control11|><|separator|>
[61]
[PDF] History of Cognitive Psychological Memory Research
Jun 17, 2019 · Jenkins and Dallenbach (1924) were the first to study the effects of sleep on memory. ... long-term memory, but no recency effect. Similarly, ...
[62]
The serial position effect of free recall. - APA PsycNet
The serial position curve is characterized by a steep, possibly exponential, primacy effect extending over the 1st 3 or 4 words in the list.Citation · Abstract · Copyright<|separator|>
[63]
Availability: A heuristic for judging frequency and probability
This paper explores a judgmental heuristic in which a person evaluates the frequency of classes or the probability of events by availability.
[64]
Judgment under Uncertainty
1 - Judgment under uncertainty: Heuristics and biases. pp 3-20. By Amos ... 13 - The availability bias in social perception and interaction. pp 190-200. By ...
[65]
Neural Correlates of Recency Judgment - Journal of Neuroscience
Nov 1, 2002 · The prefrontal cortex plays a critical role in recollecting the temporal context of past events. The present study used event-related ...
[66]
[2509.11353] Do Large Language Models Favor Recent Content? A ...
Sep 14, 2025 · Abstract page for arXiv paper 2509.11353: Do Large Language Models Favor Recent Content? A Study on Recency Bias in LLM-Based Reranking.