Q$3.$ Briefly define the following terms in the context of the topics mentioned:

a$.$ Topic: Information Processing Biases in investment decision making. The terms to be defined: Forecasting Error, Overconfidence, Conservatism

b$.$ Topic: Behavioral Biases in investment decision making. The terms to be defined: Framing, Mental Accounting, Regret Avoidance, Fundamental risk

c$.$ Topic: Portfolio Management. The terms to be defined: Benchmark Portfolio Risk, Tracking Error, survivorship bias, directional strategy, non$-$directional strategy, pairs trading, Momentum Effect, Long$-$run Mean Reversal, the Small$-$firm Effect, Neglected Firm Effect, Mutual Fund Theorem.