基于投资心理的证券投资认知风险度量

Measuring Perceived Risk Based on Investor Psychology

将投资心理(过度自信心理和自我归因偏差心理)纳入到证券投资风险的度量,提出了认知方差和认知下偏距的认知风险度量方法,并讨论了认知方差与传统风险度量方差的关系,认知下偏距与传统下偏距的关系。与标准的证券投资风险度量相比较,证券投资的认知风险度量更接近于现实的证券投资。

This paper is concerned with the measurement of investment risk based on investor psychology （overconfidence and Biased self-attribution）. We present perceived variance and perceived LPM methods to measure the perceived risk, and analyze the discuss the relation between perceived LPM relation between perceived variance and traditional variance, and traditional LPM. Comparing with the traditional risk measurements, the perceived risk measurements are more close to investment reality.