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The role of trend length, heuristic ...
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Williams, Khalila S.
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The role of trend length, heuristic use, and experience in behavioral finance.
紀錄類型:
書目-語言資料,印刷品 : Monograph/item
正題名/作者:
The role of trend length, heuristic use, and experience in behavioral finance./
作者:
Williams, Khalila S.
面頁冊數:
30 p.
附註:
Source: Masters Abstracts International, Volume: 49-01, page: 0682.
Contained By:
Masters Abstracts International49-01.
標題:
Economics, Finance. -
電子資源:
http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=1486282
ISBN:
9781124235691
The role of trend length, heuristic use, and experience in behavioral finance.
Williams, Khalila S.
The role of trend length, heuristic use, and experience in behavioral finance.
- 30 p.
Source: Masters Abstracts International, Volume: 49-01, page: 0682.
Thesis (M.A.)--University of Houston-Clear Lake, 2010.
Past studies indicate a relationship between decision making heuristics and behavioral finance. Researchers found that heuristics, such as representativeness, anchoring, gambler's fallacy, and availability bias are significantly related to risky decision-making (Kahneman & Tversky 1974). There have been no studies to date that explore whether locus of control (LOC) plays a role in behavioral finance. In an attempt to fill this gap in the literature, the present study is an investigation of whether locus of control predicts hot-outcome effect and its converse, gambler's fallacy, when making personal investment decisions. Gambler's fallacy versus hot-outcome served as the dependent variables while trend length (six days versus six months) and trend valence (positive earnings versus negative earnings) served as the within-subjects independent variable. The current study also explored investment experience as a possible correlate of financial decision making. In the present study, seventy-one University of Houston-Clear Lake students completed Rotter's (1954) LOC scale measuring the extent to which individuals believe outcomes are determined by external forces (e.g., fate) or by internal forces (e.g., personal ability). Students also completed an original investment survey in which trend length and trend valence of stock performance were manipulated. Results suggest that trend length, trend valence, use of the hot-outcome heuristic, and prior investment experience are factors that influence personal financial decision making. Results affirm that novice investors tend to utilize the hot-outcome heuristic when investing into positive long-term stocks. However, there was no observable pattern of investing among experienced investors.
ISBN: 9781124235691Subjects--Topical Terms:
626650
Economics, Finance.
The role of trend length, heuristic use, and experience in behavioral finance.
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