A portfolio management team looking for a new trading strategy;

Please explain the following while developing this strategy:

Description of a behavioral anomaly to be exploited (or corrected). This must include specific behavioral biases and an explanation of how these biases lead to the observed behavior/anomaly, including why market forces alone may not act to eliminate them.

Description of the proposed strategy for taking advantage of this anomaly (e.g., in the case of asset mispricing) or for correcting the bias, either profitably or with benefit to society.

Evidence supporting the idea behind the strategy (why should it succeed?). Description of risks and challenges (why might it fail?)