Autori: Monti, Marco, Gigerenzer, Gerd, Martignon, Laura
Titolo: Le scelte di investimento: strategie semplici e frugali per decisioni complesse
Periodico: Sistemi intelligenti
Anno: 2012 - Fascicolo: 2 - Pagina iniziale: 201 - Pagina finale: 226

This paper aims to uncover the decision processes used by average investors,including their investment goals, the information sets they consider, and thenumber of factors that influence high-stakes financial decisions. We presentnew experimental and survey data collected from bank customers at severalItalian banks. Most subjects use a strict subset of the information available tothem, ignoring variables that standard economic models typically assume driveinvestors behavior. Fast and information-frugal heuristics model the informationsearch of many subjects observed in this study, reflecting a noncompensatory-lexicographichierarchy of features, risk, time horizon and cost, considered inthat order. Decision behavior reflects a simple combination of a fast and frugaltree and a tallying rule, predicting 78% of investors decisions.




SICI: 1120-9550(2012)2<201:LSDISS>2.0.ZU;2-L
Testo completo: http://www.mulino.it/download/article/10.1422/37898
Testo completo alternativo: http://www.mulino.it/doi/10.1422/37898

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