Professionals' endorsement of behavioral finance: Does it impact their perception of markets and themselves?

Lukas Menkhoff and Marina Nikiforow

Post-Print from HAL

Abstract: This paper provides evidence on the hypothesis that many behavioral finance patterns are so deeply rooted in human behavior that they are difficult to overcome by learning. We test this on a target group which has undoubtedly very strong incentives to learn efficient behavior, i.e. fund managers. We split this group into endorsers and non-endorsers of behavioral finance. Endorsers do, indeed, view markets differently as they regard stronger influences from behavioral biases. However, when it comes to the perception of one's own behavior the endorsement of behavioral finance becomes almost meaningless, even though endorsers otherwise do adapt behavior towards their conviction.

Keywords: G 10 (general financial markets); D 83 (learning; knowledge; belief); Behavioral finance; Fund managers; Biases (search for similar items in EconPapers)
Date: 2009-04-23
Note: View the original document on HAL open archive server: https://hal.science/hal-00690277
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (20)

Published in Journal of Economic Behavior and Organization, 2009, 71 (2), pp.318. ⟨10.1016/j.jebo.2009.04.004⟩

Downloads: (external link)
https://hal.science/hal-00690277/document (application/pdf)

Related works:
Journal Article: Professionals' endorsement of behavioral finance: Does it impact their perception of markets and themselves? (2009)
Working Paper: Professionals' endorsement of behavioral finance: Does it impact their perception of markets and themselves? (2008)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-00690277

DOI: 10.1016/j.jebo.2009.04.004

Access Statistics for this paper

More papers in Post-Print from HAL
Bibliographic data for series maintained by CCSD ().