Heuristic : Psychological Aspects of Decision-Making on Capital Market - Literature Review

• Autorzy: Magdalena Mikołajek-Gocejna

Warianty tytułu

Heurystyki : psychologiczne aspekty podejmowania decyzji na rynku kapitałowym - Przegląd literatury

• Języki publikacji: PL

Abstrakty

Cel - celem artykułu jest dokonanie przeglądu wpływu heurystyk na decyzje podejmowane na rynku kapitałowym, głównie decyzje zakupu akcji. Heurystyki to efektywne procesy poznawcze ignorujące część informacji. W klasycznym wyobrażeniu decyzje bazujące na heurystykach należą do szybkich i oszczędnych decyzji, ale mogą implikować poważne odchylnia od decyzji "racjonalnych" definiowanych przez logikę i model statystyczny. Metodologia badania - przegląd literatury. Wynik - w prawdziwym życiu ludzie nie zawsze podejmują racjonalne decyzje oparte na ustalonych preferencjach i pełnym dostępie do informacji. Ich zachowanie jest sprzeczne z klasycznym założeniem homo oeconomicus. Wiele ludzkich zachowań podyktowanych jest próbami radzenia sobie ze złożonością świata, ponieważ zestawienie i ocena wszystkich czynników istotnych dla podjęcia decyzji przewyższa zdolności przetwarzania ludzkiego umysłu, szczególnie jeżeli chodzi o decyzje podejmowane na rynku kapitałowym. Heurystyka jest po prostu sposobem oceny wyborów w różnorodnych i zmieniających się otoczeniach decyzyjnych. Oryginalność/wartość - artykuł może stanowić bazę dla rozważań dotyczących nowej koncepcji racjonalności bądź nowego ujęcia homo oeconomicus. (abstrakt oryginalny)

EN

Purpose - the aim of this paper is to review the impact of heuristics bias decision-making on capital market. Heuristics are efficient cognitive processes that ignore part of information. In classical view, heuristic decisions save effort, but imply greater errors then "rational" decisions, defined by logic and statistical model. It clearly emerges that in real life people do not always make rational decisions based on established preferences and complete information. In many ways their behavior thus contradicts the homo oeconomicus model. These psychologically driven inadequacies also occur with investment decisions. Design/methodology/approach - literature review. Findings - much of the behaviour observed is caused through people trying to cope with the complexity of the world around them by approximating, because collating and evaluating all the factors of relevance to a decision overtaxes their mental processing capacity Originality/value - article can be base to formulating new concept of rationality or new concept of homo oeconomicus (Mikołajek-Gocejna, 2017).(original abstract)

Słowa kluczowe

PL

Efektywność rynku; Metody heurystyczne; Podejmowanie decyzji; Decyzje inwestycyjne; Rynek kapitałowy

EN

Market effectiveness; Heuristics methods; Decision making; Investment decisions; Capital market

• Czasopismo: Finanse, Rynki Finansowe, Ubezpieczenia
• Rocznik: 2017
• Numer: nr 6 (90) Współczesne tendencje w finansach i ubezpieczeniach
• Strony: 51--65

Twórcy

autor

Magdalena Mikołajek-Gocejna

• Szkoła Główna Handlowa w Warszawie

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Identyfikatory

DOI

10.18276/frfu.2017.90-04