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The Investor between Information Deficit and Behavioural Bias

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  • Gianfranco Liace

Abstract

The decision-making processes of investors are based on the transposal of information, on its meaning its understanding. The aforementioned approach is strictly correlated with the principles of fairness and transparency, which, in theory, should ensure a processing and knowledge activity of information. In principle, information (correct and complete) tends to reduce information asymmetries, thus reducing the contractual imbalances that characterize the financial market. Financial decisions (and not only) are constantly influenced by cognitive biases, reasoning errors that our mind systematically performs almost automatically and unconsciously when we are about to make decisions that are significant to our life and our well-being, as financial decisions are. Man's behaviour in respect to an economic choice is almost never rational, but influenced by continuous errors of reasoning and preferences.

Suggested Citation

  • Gianfranco Liace, 2018. "The Investor between Information Deficit and Behavioural Bias," Banca Impresa Società, Società editrice il Mulino, issue 3, pages 445-462.
    • Handle: RePEc:mul:jqmthn:doi:10.1435/92597:y:2018:i:3:p:445-462
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