| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w26911 |
| 来源ID | Working Paper 26911 |
| Taming the Bias Zoo | |
| Hongqi Liu; Cameron Peng; Wei A. Xiong; Wei Xiong | |
| 发表日期 | 2020-03-30 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | The success of the behavioral economics literature has led to a new challenge—a large number of behavioral biases offering observationally similar predictions for a targeted anomaly in financial markets. To tame the bias zoo, we propose a new approach of combining subjective survey responses with observational data; this approach has the advantage of being robust to question-specific biases introduced through surveys. We illustrate this approach by administering a nationwide survey of Chinese retail investors to elicit their trading motives. In cross-sectional regressions of respondents’ actual turnover on survey-based measures of trading motives, perceived information advantage and gambling preference dominate other motives, even though they are not the most prevalent biases simply based on survey responses. |
| 主题 | Financial Economics ; Behavioral Finance |
| URL | https://www.nber.org/papers/w26911 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/584584 |
| 推荐引用方式 GB/T 7714 | Hongqi Liu,Cameron Peng,Wei A. Xiong,et al. Taming the Bias Zoo. 2020. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w26911.pdf（709KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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