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Professionals’ endorsement of behavioral finance: does it impact their perception of markets and themselves?
[Zeitschriftenartikel]
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... mehr
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.... weniger
Klassifikation
Volkswirtschaftstheorie
angewandte Psychologie
Freie Schlagwörter
Behavioral finance; Fund managers; Biases
Sprache Dokument
Englisch
Publikationsjahr
2009
Seitenangabe
S. 318-329
Zeitschriftentitel
Journal of Economic Behavior & Organization, 71 (2009) 2
DOI
https://doi.org/10.1016/j.jebo.2009.04.004
Status
Postprint; begutachtet (peer reviewed)
Lizenz
PEER Licence Agreement (applicable only to documents from PEER project)