Study of Differences in Behavioral Biases in Investment Decision-Making Between the Salaried and Business Class Investors
Study of Differences in Behavioral Biases in Investment Decision-Making Between the Salaried and Business Class Investors
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工薪阶层和商务阶层投资者投资决策行为偏差差异研究
DOI：
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发表时间：
2011
期刊：
影响因子：
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通讯作者：
M. Mittal
中科院分区：
文献类型：
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作者：
M. Mittal
近年来的研究表明，投资者行为和资产价格偏离了简单理性模型的预测。投资者的投资决策受到他们的偏见和偏见的影响。性别、年龄、收入、教育程度、财富和婚姻状况等人口因素也会影响投资决策。本文调查了工薪阶层和商业阶层投资者在投资决策上的差异，以及他们受一些普遍表现出的行为偏差影响的倾向。在2006年7月至10月期间，对来自印多尔市的428名投资者进行了抽样调查。研究表明，商业阶层投资者更容易产生认知偏差，而工薪阶层投资者更容易产生认知偏差，这是框架效应和前景理论的结果。
It has been established in the recent studies that investor behavior and asset price deviate from the prediction of simple rational models. The investment decisions of the investors are influenced by their biases and prejudices. Demographic factors like gender, age, income, education, wealth and marital status also influence investment decision-making. This paper investigates how salaried and business class investors differ in their investment decisions and their tendency to fall prey to some commonly exhibited behavioral biases. A sample survey of 428 investors from the city of Indore was conducted during July-October 2006 with the help of a structured questionnaire. The study indicates that business class investors are more prone to cognitive biases while salaried class investors are more prone to biases which are outgrowth of framing effect and prospects theory.