Biases of representativeness in decision making process of investors

Biases of representativeness in decision making process of investors

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I am writing an MSc dissertation in a finance field. The exact topic is
The Effect of Behavioral Biases on Investment Decisions of Individual
Investors. Furthermore, the Research question is: How are the biases of
representativeness, overconfidence, anchoring and loss aversion
manifested in decision making process of individual investors in
developing markets, such as Croatia?
Therefore, the paper focuses on the Croatian market.
I have already finished the majority of the paper, such as the
Literature Review where I provided empirical evidence for the four
behavioral biases and discussed the implications of behavioral finance
in detail. However, I am stuck with the Data and Methods part. I have
already done some writings in this part such as the description of the
survey approach, sample, data collection and the development of the
Croatian financial market. However, I am stuck with the Findings and
Discussion, and Conclusion.

Biases of representativeness in decision making process of investors

I have used a survey approach where I collected 75 responses. The sample
were students who are studying in the finance related fields and workers
who are working within a finance field in Croatia. Therefore, these
people have knowledge in finance and investments. Now, these responses
need to be analyzed in Excel (making correlations between the four
behavioral biases and individual investor decision making, based on the
given answers). This should be done by using proxies. Based on the
survey questions I have made up 2 proxies: demographics proxy (age,
gender, income level, education level, experience…) and investing
profile proxy (frequency of trading, how much have they invested, do
they consider themselves to be good traders…).
Therefore, based on the survey responses and empirical evidence from the
four behavioral biases, correlations need to be made and interpreted as
the findings of the paper. The analysis of the responses needs to be
made in Excel and then the interpretation of the findings in Word.
I would like this part to show different charts where the distribution
of answers will be shown and also to find correlations between certain
questions of interest and show that in charts too. The aforementioned
proxies should be included and correlations need to be made between them
and the behavioral biases questions. For example, what is the
correlation between the level of education (sociodemographic question)
and anchoring bias. This should be shown in charts. There is no need for
calculating the coefficient correlation…

Biases of representativeness in decision making process of investors

I would like to discuss this with the writer.
The word count for the part in Word should be around 2000 words. This
word count does not include images and charts.
I will provide the writer with my dissertation work so far, so that
he/she can go through it to gain context and use the idea in the
Methodology part too. Also, I will provide the answers to the survey and
all the details since the writer needs to use them to make correlations
and interpret the findings.
By reading the paper, the writer will gain a deeper understanding of
what the research question is and what needs to be done in the Findings
and Discussion and Conclusion.

Biases of representativeness in decision making process of investors

By admin in Blog on April 2, 2020