Mairéad Farrell (Galway West, Sinn Fein)
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It is specifically overconfidence bias, as per behavioural finance, that is of concern to me. The Tánaiste makes his point based on logic but it is very clear that there are biases. While the Tánaiste may disagree with my concerns and I may disagree with his view on benefits, we must, if we are to deal with this, because it is of such importance, realise that the fact that no analysis has been done is an issue. While I understand what the Tánaiste is saying about variables and so on, some kind of risk analysis of the financial impact must be done. We may have different opinions as to the benefits, and either of us could be proven right, but I am very concerned that if there is no risk analysis we will be basing the whole approach on overconfidence bias.