投资者的认知与行为偏差的研究

Research and Enlightenment on Cognitive and Behavioral Bias of Investor

行为财务学融合了经济学与心理学,研究在不确定环境下投资者决策过程中的心理因素及其偏差行为对市场价格的影响。本文通过介绍人们在判断和决策时的认知心理及其偏差,分析了在此基础上产生的投资者行为偏差,并提出了相关研究对投资者的一些启示。

Behavioral finance combines the research of economics and psychology. It studies the investor＇s psychology factor under uncertainty condition and the influence on market price that is caused by behavioral bias. This paper introduces cognitive psychology and bias when judging and making decisions. Based on the decision biases, we analyze the investor＇s behavioral bias and put forward some advice.