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Overconfidence Bias and Its Manifestation on Financial Markets

Author

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  • Boyan Ivanchev

    (University of National and World Economy, Sofia, Bulgaria)

Abstract

The article examines overconfidence bias in terms of behavioral finance and specifically its manifestation and impact on financial market participants. The article uses data and research on the behavior and manifestation of the propensity for overconfidence of Bulgarian consumers of financial services and financial market participants. We will also present an original study of a database of trading on the Bulgarian Stock Exchange JSC in terms of comparing the frequency of trading between Bulgarians and Americans and in terms of differences in the frequency of trading (overtrading) between men and women.

Suggested Citation

  • Boyan Ivanchev, 2021. "Overconfidence Bias and Its Manifestation on Financial Markets," Ikonomiceski i Sotsialni Alternativi, University of National and World Economy, Sofia, Bulgaria, issue 1, pages 145-152, March.
    • Handle: RePEc:nwe:iisabg:y:2021:i:1:p:145-152
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    File URL: https://www.unwe.bg/doi/alternativi/2021.1/ISA.2021.1.11.pdf
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    More about this item

    Keywords

    overconfidence bias; financial markets; overtrading; Bulgarian Stock Exchange;
    All these keywords.

    JEL classification:

    • G41 - Financial Economics - - Behavioral Finance - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making in Financial Markets

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