| Presentation | 2008-03-06 The Influence of market trend and investors' risk attitude on their investment behavior Yuto IWASAKI, Kazuhiro Ueda, Yusuke ITO, Kiyoshi IZUMI, |
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| Abstract(in Japanese) | (See Japanese page) |
| Abstract(in English) | The purpose of this research is to experimentally clarify the influence of market factors (market trend and volatility) and investors' individual factors (risk attitude and degree of proficiency) on their investment behavior. We measured, using lottery choice questions, the risk attitude of 5 professional traders and 11 personal investors. We also observed their market behavior in an experimental market in which stock prices were controlled. As a result, the following three things were clarified: First, market factors influenced only on their risk-taking behavior; second, it was affected not by market factors but by their risk attitude whether they followed market trends or not; finally, disposition effect was affected only by degree of proficiency, which meant that professional traders could avoid disposition effect. |
| Keyword(in Japanese) | (See Japanese page) |
| Keyword(in English) | investor's behavior / risk attitude / decision making / artificial market |
| Paper # | AI2007-57 |
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| Conference Information | |
| Committee | AI |
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| Conference Date | 2008/2/27(1days) |
| Place (in Japanese) | (See Japanese page) |
| Place (in English) | |
| Topics (in Japanese) | (See Japanese page) |
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| Paper Information | |
| Registration To | Artificial Intelligence and Knowledge-Based Processing (AI) |
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| Language | JPN |
| Title (in Japanese) | (See Japanese page) |
| Sub Title (in Japanese) | (See Japanese page) |
| Title (in English) | The Influence of market trend and investors' risk attitude on their investment behavior |
| Sub Title (in English) | |
| Keyword(1) | investor's behavior |
| Keyword(2) | risk attitude |
| Keyword(3) | decision making |
| Keyword(4) | artificial market |
| 1st Author's Name | Yuto IWASAKI |
| 1st Author's Affiliation | The University of Tokyo() |
| 2nd Author's Name | Kazuhiro Ueda |
| 2nd Author's Affiliation | The University of Tokyo |
| 3rd Author's Name | Yusuke ITO |
| 3rd Author's Affiliation | Simplex Institute Inc. |
| 4th Author's Name | Kiyoshi IZUMI |
| 4th Author's Affiliation | National Institute of Advanced Industrial Science and Technology |
| Date | 2008-03-06 |
| Paper # | AI2007-57 |
| Volume (vol) | vol.107 |
| Number (no) | 523 |
| Page | pp.pp.- |
| #Pages | 6 |
| Date of Issue | |