Self-deception in Financial Decisions
Self-deception is classified as the one of the decision-making errors which impede making reasonable decisions. The efficiency of the financial market is associated with the belief that all the participants of the market behave reasonably. They maximise their utility and are able to process all inco...
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| Format: | Article |
| Language: | English |
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Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu
2019-01-01
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| Series: | Nauki o Finansach |
| Online Access: | https://journals.ue.wroc.pl/fins/article/view/255 |
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| _version_ | 1849328180040564736 |
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| author | Marta Maciejasz-Świątkiewicz Mateusz Musiał |
| author_facet | Marta Maciejasz-Świątkiewicz Mateusz Musiał |
| author_sort | Marta Maciejasz-Świątkiewicz |
| collection | DOAJ |
| description | Self-deception is classified as the one of the decision-making errors which impede making reasonable decisions. The efficiency of the financial market is associated with the belief that all the participants of the market behave reasonably. They maximise their utility and are able to process all incoming information in the correct way. Considering the fact that financial market anomalies happen, it should be considered that the efficiency of this market is a specific situation in which it may be found. In this work, the research results of the conducted experiment were described. The hypothesis was studied that persons of a higher financial status are more likely to undertake more risky financial decisions which may result in obtaining higher collected financial funds. As a result of the conducted experiment the working hypothesis was confirmed. Due to self-deception consisting in strong identification with the chosen status in the game, strengthened with their own convictions regarding the behaviour of particular professional group representatives, persons with a higher status showed a much greater tendency to risk than persons with a lower status.(original abstract) |
| format | Article |
| id | doaj-art-167874d9ee3d41d39afb2cf568a146c1 |
| institution | Kabale University |
| issn | 2449-9811 |
| language | English |
| publishDate | 2019-01-01 |
| publisher | Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu |
| record_format | Article |
| series | Nauki o Finansach |
| spelling | doaj-art-167874d9ee3d41d39afb2cf568a146c12025-08-20T03:47:40ZengWydawnictwo Uniwersytetu Ekonomicznego we WrocławiuNauki o Finansach2449-98112019-01-01243256Self-deception in Financial DecisionsMarta Maciejasz-Świątkiewicz0Mateusz Musiał1University of Opole, PolandUniversity of Opole, PolandSelf-deception is classified as the one of the decision-making errors which impede making reasonable decisions. The efficiency of the financial market is associated with the belief that all the participants of the market behave reasonably. They maximise their utility and are able to process all incoming information in the correct way. Considering the fact that financial market anomalies happen, it should be considered that the efficiency of this market is a specific situation in which it may be found. In this work, the research results of the conducted experiment were described. The hypothesis was studied that persons of a higher financial status are more likely to undertake more risky financial decisions which may result in obtaining higher collected financial funds. As a result of the conducted experiment the working hypothesis was confirmed. Due to self-deception consisting in strong identification with the chosen status in the game, strengthened with their own convictions regarding the behaviour of particular professional group representatives, persons with a higher status showed a much greater tendency to risk than persons with a lower status.(original abstract)https://journals.ue.wroc.pl/fins/article/view/255 |
| spellingShingle | Marta Maciejasz-Świątkiewicz Mateusz Musiał Self-deception in Financial Decisions Nauki o Finansach |
| title | Self-deception in Financial Decisions |
| title_full | Self-deception in Financial Decisions |
| title_fullStr | Self-deception in Financial Decisions |
| title_full_unstemmed | Self-deception in Financial Decisions |
| title_short | Self-deception in Financial Decisions |
| title_sort | self deception in financial decisions |
| url | https://journals.ue.wroc.pl/fins/article/view/255 |
| work_keys_str_mv | AT martamaciejaszswiatkiewicz selfdeceptioninfinancialdecisions AT mateuszmusiał selfdeceptioninfinancialdecisions |