Taming the bias zoo

نویسندگان

چکیده

The success of behavioral economics has led to a new challenge: many biases offer observationally similar predictions for targeted financial anomaly. To tame this bias zoo, we combine subjective survey responses with observational data propose approach, one that is robust question-specific introduced through surveys. We illustrate approach by administering nationwide Chinese retail investors elicit their trading motives. In cross-sectional regressions respondents’ actual turnover on survey-based motives, perceived information advantage and gambling preference dominate other though they are not the most prevalent based responses.

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ژورنال

عنوان ژورنال: Journal of Financial Economics

سال: 2022

ISSN: ['1879-2774', '0304-405X']

DOI: https://doi.org/10.1016/j.jfineco.2021.06.001