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The role of trend length, heuristic ...

Williams, Khalila S.

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The role of trend length, heuristic use, and experience in behavioral finance.

Record Type:	Language materials, printed : Monograph/item
Title/Author:	The role of trend length, heuristic use, and experience in behavioral finance./
Author:	Williams, Khalila S.
Description:	30 p.
Notes:	Source: Masters Abstracts International, Volume: 49-01, page: 0682.
Contained By:	Masters Abstracts International49-01.
Subject:	Economics, Finance. -
Online resource:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=1486282
ISBN:	9781124235691

The role of trend length, heuristic use, and experience in behavioral finance.
Williams, Khalila S.

The role of trend length, heuristic use, and experience in behavioral finance. - 30 p.

Source: Masters Abstracts International, Volume: 49-01, page: 0682.

Thesis (M.A.)--University of Houston-Clear Lake, 2010.

Past studies indicate a relationship between decision making heuristics and behavioral finance. Researchers found that heuristics, such as representativeness, anchoring, gambler's fallacy, and availability bias are significantly related to risky decision-making (Kahneman & Tversky 1974). There have been no studies to date that explore whether locus of control (LOC) plays a role in behavioral finance. In an attempt to fill this gap in the literature, the present study is an investigation of whether locus of control predicts hot-outcome effect and its converse, gambler's fallacy, when making personal investment decisions. Gambler's fallacy versus hot-outcome served as the dependent variables while trend length (six days versus six months) and trend valence (positive earnings versus negative earnings) served as the within-subjects independent variable. The current study also explored investment experience as a possible correlate of financial decision making. In the present study, seventy-one University of Houston-Clear Lake students completed Rotter's (1954) LOC scale measuring the extent to which individuals believe outcomes are determined by external forces (e.g., fate) or by internal forces (e.g., personal ability). Students also completed an original investment survey in which trend length and trend valence of stock performance were manipulated. Results suggest that trend length, trend valence, use of the hot-outcome heuristic, and prior investment experience are factors that influence personal financial decision making. Results affirm that novice investors tend to utilize the hot-outcome heuristic when investing into positive long-term stocks. However, there was no observable pattern of investing among experienced investors.

ISBN: 9781124235691Subjects--Topical Terms:

626650
Economics, Finance.

The role of trend length, heuristic use, and experience in behavioral finance.
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020 $a 9781124235691
035 $a (UMI)AAI1486282
035 $a AAI1486282
040 $a UMI $c UMI
100 1 $a Williams, Khalila S. $3 1683625
245 1 4 $a The role of trend length, heuristic use, and experience in behavioral finance.
300 $a 30 p.
500 $a Source: Masters Abstracts International, Volume: 49-01, page: 0682.
500 $a Adviser: Stephanie Hart.
502 $a Thesis (M.A.)--University of Houston-Clear Lake, 2010.
520 $a Past studies indicate a relationship between decision making heuristics and behavioral finance. Researchers found that heuristics, such as representativeness, anchoring, gambler's fallacy, and availability bias are significantly related to risky decision-making (Kahneman & Tversky 1974). There have been no studies to date that explore whether locus of control (LOC) plays a role in behavioral finance. In an attempt to fill this gap in the literature, the present study is an investigation of whether locus of control predicts hot-outcome effect and its converse, gambler's fallacy, when making personal investment decisions. Gambler's fallacy versus hot-outcome served as the dependent variables while trend length (six days versus six months) and trend valence (positive earnings versus negative earnings) served as the within-subjects independent variable. The current study also explored investment experience as a possible correlate of financial decision making. In the present study, seventy-one University of Houston-Clear Lake students completed Rotter's (1954) LOC scale measuring the extent to which individuals believe outcomes are determined by external forces (e.g., fate) or by internal forces (e.g., personal ability). Students also completed an original investment survey in which trend length and trend valence of stock performance were manipulated. Results suggest that trend length, trend valence, use of the hot-outcome heuristic, and prior investment experience are factors that influence personal financial decision making. Results affirm that novice investors tend to utilize the hot-outcome heuristic when investing into positive long-term stocks. However, there was no observable pattern of investing among experienced investors.
590 $a School code: 1251.
650 4 $a Economics, Finance. $3 626650
650 4 $a Psychology, General. $3 1018034
650 4 $a Sociology, Organizational. $3 1018023
690 $a 0508
690 $a 0621
690 $a 0703
710 2 $a University of Houston-Clear Lake. $3 1018602
773 0 $t Masters Abstracts International $g 49-01.
790 1 0 $a Hart, Stephanie, $e advisor
790 $a 1251
791 $a M.A.
792 $a 2010
856 4 0 $u http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=1486282