We employ a lab experiment to test whether subjects have overconfidence. We find evidence suggesting that: in general men have a larger degree of overconfidence, and that both age and experience have some influence in the degree of overconfidence

This study analyzes group influence on investment decisions in an attempt to determine the correlation between two financial behavior tendencies: overconfidence and herding behavior. An experiment was carried out with 92 students from the Universidade Católica de Brasília. The results...

The objective of this article is to investigate the presence of affect and anchoring biases in the financial decision making of individual investors. Another parallel objective is to verify whether the gender factor (male and female) or financial knowledge interfere with the presence of these...

This study aimed to verify whether perceptions of profits or losses influence individual financial decisions. We used an experimental approach to evaluate if the dissatisfaction due to a loss causes any impact to the level of loss aversion of investors. We found that the dissatisfaction after a...

This paper verified the impact of the investment horizon in the allocation of an optimized portfolio. To do so, we generated efficient frontiers from a group of diversified global asset classes considering time series of returns of the past 10 years. It was possible to prove that the investment...

This main objective of this research is to verify if the psychological profile influences the rationality of individuals' financial decision. To this end, a survey was applied to a group of undergraduate students, based on prospect theory and big five personality traits. We found evidence that...

This paper analyses how financial knowledge influences irrationality in the individual financial decisions. Following the prospect theory, we considered two bias to identify the irrationality level: risk preference asymmetry (APR) and the weighted probability (PW). Considering a sample of...

This research verifies the existence of the aversion to uncertainty bias in individual financial decisions. It also evaluates the effects of gender and knowledge in this bias. We considered a sample of 80 undergraduate management students from Universidade Católica de Brasília. The results...