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Yatırımcılar Rasyonel midir? BİST'te Aşırı Güven ve Aşırı Optimizm Ön Yargıları Üzerine Bir Çalışma

Are Investors Rational? A Survey About Over-Confidence And Over -Optimism Bias In Bist

Journal Name:

  • Siyaset, Ekonomi ve Yönetim Araştırmaları Dergisi

Publication Year:

  • 2017

Key Words:

Keywords (Original Language):

Author NameUniversity of AuthorFaculty of Author
Abstract (2. Language): 
Individual investors may act with cognitive biases while making investment decisions. Therefore; "homoeconomicus" assumption advocated by traditional investment theories is violated. Analyses of normative perspectives remain incapable to explain assets mispricing, market failures, anomalies and crises, since they isolate investors from psychological, social and demographic environment. In this study a survey is carried out to determine over confidence and over optimism biases which may lead irrational behaviours of investors, and to define demographic determinants of these biases.
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Abstract (Original Language): 
Bireysel yatırımcılar finansal yatırım kararlarını verirken bilişsel ön yargılarla hareket edebilmektedirler. Dolayısıyla geleneksel yatırım teorileri tarafından savunulan "homo economicus" varsayımı kişiler tarafında ihlal edilmektedir. Yatırımcıyı psikolojik, sosyal ve demografik çevreden soyutlayarak analiz yapan normatif görüşler piyasada varlıkların yanlış fiyatlandırılmalarını, piyasa aksaklıklarını, anomali ve krizleri açıklamakta yetersiz kalmaktadır. Bu çalışmada anket yöntemi kullanılarak yatırımcıların irrasyonel davranışlarına neden olan aşırı güven ve aşırı optimizm ön yargıları tespit edilmekte ve bu ön yargıların demografik belirleyenleri tanımlanmaktadır.
FULL TEXT (PDF): 
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