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Identification of Heuristics in the Process of Decision Making on Financial Markets

In: Neuroeconomic and Behavioral Aspects of Decision Making

Author

Listed:
  • Magdalena Osińska

    (Nicolaus Copernicus University)

  • Józef Stawicki

    (Nicolaus Copernicus University)

Abstract

In the chapter we focus on the behavioral determinants of the decision-making process on financial markets. The aim of the research is to indicate and discuss an experiment as a method of identification of behavioral heuristics from the perspective of an investor’s attitude toward risk. The experimental studies are considered on the basis of such behavioral models as the LSV model, the BSV model and other. When the experiment has been completed, an appropriate method of analysis of the interrelations between identified factors is a Structural Equation Model, which is rather rarely applied in behavioral finance but is widely known in empirical psychology.

Suggested Citation

  • Magdalena Osińska & Józef Stawicki, 2017. "Identification of Heuristics in the Process of Decision Making on Financial Markets," Springer Proceedings in Business and Economics, in: Kesra Nermend & Małgorzata Łatuszyńska (ed.), Neuroeconomic and Behavioral Aspects of Decision Making, chapter 0, pages 109-129, Springer.
    • Handle: RePEc:spr:prbchp:978-3-319-62938-4_8
    DOI: 10.1007/978-3-319-62938-4_8
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