空气污染是否助长了股票投资中的非理性行为?
Binbo Zheng1,2, Xinbo Lu3, Chih-Chun Kung4
1School of Economics, Jiangxi University of Finance and Economics, Nanchang, China.
PloS one
|June 6, 2024
概括
空气污染暴露增加了不合理的股票交易行为,特别是处置和回购效应. 这种情况是通过强烈的后悔感,影响投资决策.
科学领域:
- 行为经济学是一种行为经济学.
- 环境心理学 环境心理学
- 金融市场 金融市场
背景情况:
- 股票市场投资容易受到心理偏见的影响.
- 环境因素,如空气污染,可以影响人类的认知和决策.
- 了解这些影响对于金融市场的稳定至关重要.
研究的目的:
- 调查空气污染对非理性股票交易行为的影响.
- 确定将空气污染与投资决策联系起来的心理机制.
- 检查对处置和回购效应的影响.
主要方法:
- 进行了基于实验室的行为实验.
- 模拟了空气污染,使用控制燃烧的草和蚊子线圈.
- 观察和分析参与者的股票交易决策.
主要成果:
- 空气污染显著放大了处置效应,导致出售开采库存.
- 空气污染显著放大了回购效应,鼓励回购出售的库存.
- 这些效应被发现是不对称的.
结论:
- 暴露于空气污染显然会影响不合理的财务决策.
- 遗憾是空气污染和这些贸易偏见之间的关键心理调解者.
- 调查结果强调了环境质量对经济行为的更广泛的社会影响.
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