A new measurement method of investor overconfidence

Ronald Huisman, Nico L. van der Sar and Remco Zwinkels ()

Economics Letters, 2012, vol. 114, issue 1, 69-71

Abstract: We present an alternative measurement method of investor overconfidence, using unique survey data on stock market predictions of investors. We apply the Parkinson estimate based on extreme bounds around the stock forecast to deduce investor confidence. The results support overconfidence.

Keywords: Investor overconfidence; Survey data; Parkinson volatility (search for similar items in EconPapers)
JEL-codes: D1 G1 G2 (search for similar items in EconPapers)
Date: 2012
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Citations: View citations in EconPapers (9)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:114:y:2012:i:1:p:69-71

DOI: 10.1016/j.econlet.2011.09.022

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