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Unaided judgments of capital value change in bank funds,and the following willingness to invest, depending on cumulative exponential growth and decline.
Stockholm University, Faculty of Social Sciences, Department of Psychology.
2012 (English)Independent thesis Advanced level (degree of Master (Two Years)), 20 credits / 30 HE creditsStudent thesis
Abstract [en]

This study examined the effects on judgments of fund value depending on the order of yearly proportional value changes over 10 years. Further it examined the willingness to keep capital invested in a fund during a second investment period depending on the proportional changes provided forthe first and second investment period. The investments were made under the assumption that there was an equal chance for yearly proportional growth or decline of the same proportional sizeduring the second period. 46 students from Stockholm University completed thequestionnaire.Judgments for growing fundswith fluctuating changes were judged higher than funds with more stable changes.This indicates that different processes might take place for the judgments.Moreover, investment sizes for the second investment period were dependent on whether there was growth or decline during the first investment period, but investments did not depend on information regarding the second investment period.Furthermore, no correlation betweenjudged fund values,depending on growth and decline, and the investments were found. Thus, investments were made in a suboptimal way.

Place, publisher, year, edition, pages
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Psychology Applied Psychology
URN: urn:nbn:se:su:diva-82005OAI: diva2:565047
Psykologiska institutionen, Frescati Hagväg 8, Stockholm
Social and Behavioural Science, Law
Available from: 2013-01-08 Created: 2012-11-06 Last updated: 2013-01-08Bibliographically approved

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