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- Title
Study of Differences in Behavioral Biases in Investment Decision-Making Between the Salaried and Business Class Investors.
- Authors
Mittal, Manish
- Abstract
It has been established in the recent studies that investor behavior and asset price deviate from the prediction of simple rational models. The investment decisions of the investors are influenced by their biases and prejudices. Demographic factors like gender, age, income, education, wealth and marital status also influence investment decision-making. This paper investigates how salaried and business class investors differ in their investment decisions and their tendency to fall prey to some commonly exhibited behavioral biases. A sample survey of 428 investors from the city of Indore was conducted during July- October 2006 with the help of a structured questionnaire. The study indicates that business class investors are more prone to cognitive biases while salaried class investors are more prone to biases which are outgrowth of framing effect and prospects theory.
- Publication
IUP Journal of Behavioral Finance, 2010, Vol 7, Issue 4, p20
- ISSN
0972-9089
- Publication type
Academic Journal