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We investigate the theoretically proposed link between judgmental overconfidence and trading activity. In addition to … the relevant bias in the theoretical overconfidence literature. We relate the obtained overconfidence measures to trading …
Persistent link: https://www.econbiz.de/10010583910
We investigate the theoretically proposed link between judgmental overconfidence and trading activity. In addition to … the relevant bias in the theoretical overconfidence literature. We relate the obtained overconfidence measures to trading …
Persistent link: https://www.econbiz.de/10011116877
investment behaviour: overconfidence, risk tolerance, self-monitoring and social influence. Adopting this approach, a cluster …
Persistent link: https://www.econbiz.de/10010668762
Overconfidence is used to explain various instances of detrimental decision making. In behavioral economic and finance …. Empirical tests of these models often fail to find evidence for the predicted effects of overconfidence. These studies assume …, however, that a specific type of overconfidence, i.e. “miscalibration,” captures the underlying trait. We challenge this …
Persistent link: https://www.econbiz.de/10011051333
two groups based on their score of overconfidence, namely less informed investors, and more informed investors. This … same level of overconfidence when there is no available market information. Male and female investors are more likely to …
Persistent link: https://www.econbiz.de/10009353063
Persistent link: https://www.econbiz.de/10004346826
-causes volatility without feedback. These results are broadly consistent with behavioral models like the overconfidence and biased self …
Persistent link: https://www.econbiz.de/10009448126
This paper provides the first evidence for empirical tests of the effect of rational expectations as well as behavioral biases, including among other animal spirits such as defined by Akerlof and Shiller (2009) on the variability of trading.We have used daily data for five international capital...
Persistent link: https://www.econbiz.de/10010902142
hypothesis by correlating individual overconfidence scores with several measures of trading volume of individual investors … was designed to measure various facets of overconfidence (miscalibration, volatility estimates, better than average effect … mainly motivate this assumption by the calibration literature and model overconfidence as underestimation of the variance of …
Persistent link: https://www.econbiz.de/10005190926
transactions, and the probability to trade stocks in a given month) and are thus able to confirm predictions of overconfidence …
Persistent link: https://www.econbiz.de/10005651567