Using decision support to manage the influence of cognitive abilities on share trading performance
Online share trading is no longer restricted to expert brokers; there is a diverse population of traders with varying abilities and experience. Decision making in this context can be sub-optimal and risky. This study investigates how performance varies with level of cognitive ability and speed of online trading, and whether a decision aid can overcome tradersâ€™ disadvantages. The study showed that novice traders with decision support consistently outperformed those without and that the decision aid mitigated the negative effects of higher decision-making speeds and lower cognitive ability. This adds to decision making under time pressure and behavioural finance literature.
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