Purpose The purpose of this paper is to explore how heuristics are formed and whether herding and prospect theory act … proposed relationship is explored specifically for millennials. Herding and prospect theory are modelled as antecedents to … primarily treats heuristics, herding and prospect theory as being independent of each other. The authors take a novel approach …

test and analyze the effect of overconfidence and herding on investors' decision to transact their stocks. This study … concludes that overconfidence is the only determinant having a positive effect on the decision to invest …