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Details van artikel 5 van 8 gevonden artikelen
| Titel: |
On Ignorance, Intuition, and Investing: A Bear Market Test of the Recognition Heuristic |
| Auteur: |
Boyd, Michael |
| Verschenen in: |
Journal of behavioral finance |
| Paginering: | Jaargang 2 (2001) nr. 3 pagina's 150-156 |
| Jaar: |
2001-09-01 |
| Inhoud: |
This study replicates recent tests of the recognition heuristic as a device for selecting stock portfolios. The heuristic represents a lower limit to the search for information, since simple name recognition is the least one can know about anything. Gigerenzer and others conducted original experiments in this field at the Max Planck Institute for Psychological Research's Center for Adaptive Behavior and Cognition (the "ABC Research Group"). The ABC Group's tests support the use of the heuristic in a bull market environment. This study, conducted in a down market, reaches a different conclusion: Not only can a high degree of company name recognition lead to disappointing investment results in a bear market, it can also be beat by pure ignorance. Virtually the only finding of the ABC Group's study that we match here is that Americans are not very good at picking American stocks to outperform the market. |
| Uitgever: |
Routledge |
| Bronbestand: |
Elektronische Wetenschappelijke Tijdschriften |
Details van artikel 5 van 8 gevonden artikelen
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