The purpose of this thesis is to examine if professional investors are indicating tendencies of irrational behavior when exposed to certain psychological dilemmas related to the financial world.
Contents
1 Introduction
1.1 Background
1.2 Problem discussion
1.3 Research questions
1.4 Purpose
1.5 Approach
2 Theoretical framework
2.1 Anchoring
2.2 Confirmation bias
2.3 Hindsight bias
2.4 Gambler’s Fallacy
2.5 Herd Behavior
2.6 Overconfidence
2.7 Cognitive Reflection Task
2.8 Prospect Theory
3 Method
3.1 Data collection
3.2 The target group
3.3 Sample size
3.4 Survey theory
3.4.1 Survey advantages
3.4.2 Survey disadvantages
3.4.3 Questionnaire design
3.4.4 Questionnaire questions
3.4.5 Pilot group
3.5 Generalizability
3.6 Survey biases
3.6.1 Validity
3.6.2 Non-response
3.6.3 Translation bias
3.7 Questionnaire
3.7.1 Empirical findings
4 Analysis and Empirical finding
4.1 Rationality
4.2 Anchoring
4.3 Anchoring and Representativeness bias
4.4 Confirmation bias
4.5 Hindsight bias
4.6 Gambler’s fallacy
4.7 Herd behavior
4.8 Overconfidence
4.9 Cognitive Reflection Task
4.10 Prospect Theory & Mental Accounting
4.11 Conclusive analysis
4.11.1 Final remarks
5 Conclusion
5.1 Reflection and further studies
6 References
7 Appendices
Author: Wahlbeck, David,Sandberg, Carl,Bernéus , Hannes
Source: Jönköping University
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