Overconfidence in Fınance wıth Different Domains: An Interdisciplinary Experimental Approach
Behavioral and experimental finance literature has grown by leaps and bounds in recent years. However, much work remains to be done in the field. In detecting behavioral biases and their effects on decision making process, experiments are very advantageous in that it is possible to obtain valuable f...
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| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Sivas Cumhuriyet Üniversitesi
2014-04-01
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| Series: | Cumhuriyet Üniversitesi İktisadi ve İdari Bilimler Dergisi |
| Subjects: | |
| Online Access: | https://dergipark.org.tr/tr/download/article-file/48527 |
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| Summary: | Behavioral and experimental finance literature has grown by leaps and bounds in recent years. However, much work remains to be done in the field. In detecting behavioral biases and their effects on decision making process, experiments are very advantageous in that it is possible to obtain valuable findings about the biases of individuals in controlled laboratory settings. The purpose of this study is to search for the overconfidence bias of UK subjects and investigate whether overconfidence is domain specific. Results indicate that people are generally overconfident. Most of them see themselves above average and overestimate precision of their knowledge. In addition, it is found that individuals are less overconfident in the domain of finance. |
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| ISSN: | 1303-1279 |