Identification of Heuristics in the Process of Decision Making on Financial Markets

Magdalena Osinska and Józef Stawicki ()
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Józef Stawicki: Nicolaus Copernicus University

Chapter Chapter 8 in Neuroeconomic and Behavioral Aspects of Decision Making, 2017, pp 109-129 from Springer

Abstract: Abstract In the chapter we focus on the behavioral determinants of the decision-making process on financial markets. The aim of the research is to indicate and discuss an experiment as a method of identification of behavioral heuristics from the perspective of an investor’s attitude toward risk. The experimental studies are considered on the basis of such behavioral models as the LSV model, the BSV model and other. When the experiment has been completed, an appropriate method of analysis of the interrelations between identified factors is a Structural Equation Model, which is rather rarely applied in behavioral finance but is widely known in empirical psychology.

Keywords: Decision Making; Behavioral Finance; Experiment; Structural Equation Model (SEM) (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-319-62938-4_8

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DOI: 10.1007/978-3-319-62938-4_8

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