Vieses cognitivos nas decisÃes de investimentos: uma anÃlise do excesso de confianÃa, aversÃo à ambigÃidade e efeito disposiÃÃo sob a perspectiva das finanÃas comportamentais

AUTOR(ES)
DATA DE PUBLICAÇÃO

2007

RESUMO

This study makes a revision of the theories of behavioral finances and through one survey next to students of the Federal University of Pernambuco, with the application of questionnaires based on the models of Kahneman and Tversky (1979), and Glaser and Weber (2003), and of a simulation of investments based on the software created by Macedo Jr (2003). The results had not presented evidence of the presence of the disposition effect in the simulations; however it identified that when the participants had received the portfÃlio ready the results of this effect in these participants had been different of the results of the participants that had mounted alone his wallets. Another effect not evidenced in the participants was the reflection effect, or loss aversion. Was evidenced the effects of the overconfidence, and was proven that the effect of illusion of control and unrealistic optimism was more present in the masculine gender, beyond evidencing a positive correlation of the better than average effect with the volume of operations of purchases. The presence of the ambiguity averseness in the participants was also evidenced, and in synthesis the sample presented evidences of suitable behaviors with the theories of behavioral finances

ASSUNTO(S)

excesso de confianÃa administracao overconfidence disposition effect ambiguity averseness efeito disposiÃÃo aversÃo à ambigÃidade finanÃas comportamentais behavioral finance

ACESSO AO ARTIGO

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