Overconfidence in Fınance wıth Different Domains: An Interdisciplinary Experimental Approach

Serkan Şahin; Özlem Yılmaz

EN TR

Overconfidence in Fınance wıth Different Domains: An Interdisciplinary Experimental Approach

Abstract

Behavioral and experimental finance literature has grown by leaps and bounds in recent years. However, much work remains to be done in the field. In detecting behavioral biases and their effects on decision making process, experiments are very advantageous in that it is possible to obtain valuable findings about the biases of individuals in controlled laboratory settings. The purpose of this study is to search for the overconfidence bias of UK subjects and investigate whether overconfidence is domain specific. Results indicate that people are generally overconfident. Most of them see themselves above average and overestimate precision of their knowledge. In addition, it is found that individuals are less overconfident in the domain of finance.

Keywords

Behavioral Finance, Experimental Finance and Overconfidence

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Abstract

Son yıllarda finans alanında ilgi gören aşırı öz güven algı sapmasının hem amprik hem de deneysel yaklaşımlarla incelendiği görülmektedir. İkincil veri kullanan ampirik çalışmaların dezavantajı ise aşırı öz güven algı sapmasının piyasalarda doğrudan gözlemlenemiyor olmasıdır. Bu nedenle, amprik çalışmalarda aşırı öz güven algı sapmasını temsil edeceği düşünülen çeşitli değişkenler kullanımakta ancak bu durum yanıltıcı sonuçlar ortaya çıkarabilmektedir. Bu kapsamda, deneysel çalışmaların değişkenlerin kontrol altına alınabildiği laboratuvar ortamında yapılıyor olması nedeniyle, aşırı öz güven algı * This paper is based on Ph.D. thesis of Serkan SAHIN, completed at the Middle East Technical University. * Arş. Gör. Dr., Kahramanmaraş Sütçü İmam Üniversitesi, İİBF, İşletme Bölümü, Kahramanmaraş, serkansans@hotmail.com. ** Prof. Dr., Orta Doğu Teknik Üniversitesi, İİBF, İşletme Bölümü, Ankara, yozlem@metu.edu.tr. sapması doğrudan ortaya konulabilmektedir. Bu çalışmanın amacı İngiltere’deki bireylerin genel ve finansal güven düzeylerini ölçümlemek ve aşırı özgüven sapmasının farklı alanlara bağımlı değişen bir yapısı olup olmadığını belirmektir. Elde edilen bulgular bireylerin genellikle sahip oldukları bilgilere aşırı güven duyduklarını göstermiştir. Çoğu birey kendini diğer katılımcılardan bilgi ve beceri olarak üstün görmekte ve hisse senedi piyaslarında üstün başarı elde edeceklerini düşünmektedirler. Ayrıca elde edilen bulgular bireylerin yatırım bilgisi gerektiren konularda kendilerine daha az güvendiğini ortaya koymaktadır.

Keywords

Davranışsal Finans, Deneysel Finans ve Aşırı Özgüven Algı Sapması

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Details

Primary Language

English

Subjects

-

Journal Section

-

Authors

Serkan Şahin

Özlem Yılmaz

Publication Date

April 25, 2014

Submission Date

October 1, 2013

Acceptance Date

-

Published in Issue

Year 2014 Volume: 15 Number: 1

IZ

https://izlik.org/JA35XM59ZT

Cite

RIS / Bibtex

APA

Şahin, S., & Yılmaz, Ö. (2014). Overconfidence in Fınance wıth Different Domains: An Interdisciplinary Experimental Approach. Cumhuriyet Üniversitesi İktisadi Ve İdari Bilimler Dergisi, 15(1), 253-268. https://izlik.org/JA35XM59ZT

AMA

1.Şahin S, Yılmaz Ö. Overconfidence in Fınance wıth Different Domains: An Interdisciplinary Experimental Approach. Cumhuriyet Üniversitesi İktisadi ve İdari Bilimler Dergisi. 2014;15(1):253-268. https://izlik.org/JA35XM59ZT

Chicago

Şahin, Serkan, and Özlem Yılmaz. 2014. “Overconfidence in Fınance Wıth Different Domains: An Interdisciplinary Experimental Approach”. Cumhuriyet Üniversitesi İktisadi Ve İdari Bilimler Dergisi 15 (1): 253-68. https://izlik.org/JA35XM59ZT.

EndNote

Şahin S, Yılmaz Ö (April 1, 2014) Overconfidence in Fınance wıth Different Domains: An Interdisciplinary Experimental Approach. Cumhuriyet Üniversitesi İktisadi ve İdari Bilimler Dergisi 15 1 253–268.

IEEE

[1]S. Şahin and Ö. Yılmaz, “Overconfidence in Fınance wıth Different Domains: An Interdisciplinary Experimental Approach”, Cumhuriyet Üniversitesi İktisadi ve İdari Bilimler Dergisi, vol. 15, no. 1, pp. 253–268, Apr. 2014, [Online]. Available: https://izlik.org/JA35XM59ZT

ISNAD

Şahin, Serkan - Yılmaz, Özlem. “Overconfidence in Fınance Wıth Different Domains: An Interdisciplinary Experimental Approach”. Cumhuriyet Üniversitesi İktisadi ve İdari Bilimler Dergisi 15/1 (April 1, 2014): 253-268. https://izlik.org/JA35XM59ZT.

JAMA

1.Şahin S, Yılmaz Ö. Overconfidence in Fınance wıth Different Domains: An Interdisciplinary Experimental Approach. Cumhuriyet Üniversitesi İktisadi ve İdari Bilimler Dergisi. 2014;15:253–268.

MLA

Şahin, Serkan, and Özlem Yılmaz. “Overconfidence in Fınance Wıth Different Domains: An Interdisciplinary Experimental Approach”. Cumhuriyet Üniversitesi İktisadi Ve İdari Bilimler Dergisi, vol. 15, no. 1, Apr. 2014, pp. 253-68, https://izlik.org/JA35XM59ZT.

Vancouver

1.Serkan Şahin, Özlem Yılmaz. Overconfidence in Fınance wıth Different Domains: An Interdisciplinary Experimental Approach. Cumhuriyet Üniversitesi İktisadi ve İdari Bilimler Dergisi [Internet]. 2014 Apr. 1;15(1):253-68. Available from: https://izlik.org/JA35XM59ZT