Some financial experiments find that individuals' risk perception in favor of shortfall measures like LPMs. This paper provides an individuals' risk perception model and a risk perception model with overconfidence a...Some financial experiments find that individuals' risk perception in favor of shortfall measures like LPMs. This paper provides an individuals' risk perception model and a risk perception model with overconfidence according to results of financial experiments and shows that investors' psychology could influence individuals' risk perceptions, and further, investors' psychology could influence investment decisions.展开更多
基金This project is supported by National Natural Science Foundation of China(70571042)
文摘Some financial experiments find that individuals' risk perception in favor of shortfall measures like LPMs. This paper provides an individuals' risk perception model and a risk perception model with overconfidence according to results of financial experiments and shows that investors' psychology could influence individuals' risk perceptions, and further, investors' psychology could influence investment decisions.