References
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[2]. Ritter, J. R. (2003). Behavioral finance. Pacific-Basin finance journal, 11(4), 429-437.
[3]. Hirshleifer, D. (2015). Behavioral finance. Annual Review of Financial Economics, 7, 133-159.
[4]. Hilary G, Hui KW (2009). Does religion matter in corporate decision making in America? J. Fin. Econ., 93: 455-73.
[5]. Hong, H., & Kacperczyk, M. (2009). The price of sin: The effects of social norms on markets. Journal of financial economics, 93(1), 15-36.
[6]. Kumar, A. (2009). Who gambles in the stock market?. The Journal of Finance, 64(4), 1889-1933.
[7]. Kumar, A., Page, J. K., & Spalt, O. G. (2011). Religious beliefs, gambling attitudes, and financial market outcomes. Journal of financial economics, 102(3), 671-708.
[8]. McGuire, S. T., Omer, T. C., & Sharp, N. Y. (2012). The impact of religion on financial reporting irregularities. The Accounting Review, 87(2), 645-673.
[9]. Hong, H., & Kostovetsky, L. (2012). Red and blue investing: Values and finance. Journal of Financial Economics, 103(1), 1-19.
[10]. Hutton, I., Jiang, D., & Kumar, A. (2014). Corporate policies of Republican managers. Journal of Financial and Quantitative analysis, 49(5-6), 1279-1310.
[11]. Oprean, C., & Tanasescu, C. (2014). Effects of behavioural finance on emerging capital markets. Procedia Economics and Finance, 15, 1710-1716.
[12]. Economou, F., Hassapis, C., & Philippas, N. (2018). Investors’ fear and herding in the stock market. Applied Economics, 50(34-35), 3654-3663.
[13]. Li, Z., Diao, X., & Wu, C. (2022). The influence of mobile trading on return dispersion and herding behavior. Pacific-Basin Finance Journal, 73, 101767.
[14]. Indārs, E. R., Savin, A., & Lublóy, Á. (2019). Herding behaviour in an emerging market: Evidence from the Moscow Exchange. Emerging Markets Review, 38, 468-487.
[15]. Demirer, R., & Kutan, A. M. (2006). Does herding behavior exist in Chinese stock markets?. Journal of international Financial markets, institutions and money, 16(2), 123-142.
[16]. Choi, K. H., & Yoon, S. M. (2020). Investor sentiment and herding behavior in the Korean stock market. International Journal of Financial Studies, 8(2), 34.
[17]. Brendea, G., & Pop, F. (2019). Herding behavior and financing decisions in Romania. Managerial Finance.
[18]. Barberis, N., & Thaler, R. (2003). A survey of behavioral finance. Handbook of the Economics of Finance, 1, 1053-1128.
[19]. Benartzi, S., & Thaler, R. H. (2001). Naive diversification strategies in defined contribution saving plans. American economic review, 91(1), 79-98.
[20]. French, K. R., & Poterba, J. M. (1991). Investor diversification and international equity markets.
[21]. Lai, S., & Teo, M. (2008). Home-biased analysts in emerging markets. Journal of Financial and Quantitative Analysis, 43(3), 685-716.
[22]. Graham, J. R., Harvey, C. R., & Huang, H. (2009). Investor competence, trading frequency, and home bias. Management Science, 55(7), 1094-1106.
[23]. Kim, G. H., & Kim, H. (2022). Non-fundamental home bias in international equity markets. International Economics, 170, 213-234.
[24]. Lin, L., & Puchniak, D. W. (2022). Institutional Investors in China: Corporate Governance and Policy Channeling in the Market Within the State. Columbia Journal of Asian Law, 35(1), 74-159.
[25]. Chen, G. M., Kim, K. A., Nofsinger, J. R., & Rui, O. M. (2004). Behavior and performance of emerging market investors: Evidence from China. Unpublished Washington State University Working paper (January).
[26]. Lucey, B. M., & Dowling, M. (2013). Cultural behavioral finance in emerging markets. Emerging Markets and the Global Economy: A Handbook, 327.
[27]. Leković, M. (2020). Cognitive biases as an integral part of behavioral finance. Economic Themes, 58(1), 75-96.
[28]. Bateman, H., Eckert, C., Iskhakov, F., Louviere, J., Satchell, S., & Thorp, S. (2017). Default and naive diversification heuristics in annuity choice. Australian Journal of Management, 42(1), 32-57.
[29]. Bansal, T. (2020). Behavioral finance and COVID-19: cognitive errors that determine the financial future. Available at SSRN 3595749.
[30]. Indārs, E. R., Savin, A., & Lublóy, Á. (2019). Herding behaviour in an emerging market: Evidence from the Moscow Exchange. Emerging Markets Review, 38, 468-487.
[31]. Jiang, R., Wen, C., Zhang, R., & Cui, Y. (2022). Investor's herding behavior in Asian equity markets during COVID-19 period. Pacific-Basin Finance Journal, 73, 101771.
[32]. Ririn Stefani Silitonga, Isfenti Sadalia, Amlys Syahputra Silalahi. (2021). Analysis of Herding Behavior in Developing Countries. International Journal of Research and Review. Vol.8; Issue: 12
[33]. Hirshleifer, D. (2001). Investor psychology and asset pricing. Journal of Finance, 56, 1533-1597.
[34]. Thaler, R. H., Tversky, A., Kahneman, D., & Schwartz, A. (1997). The effect of myopia and loss aversion on risk taking: An experimental test. The quarterly journal of economics, 112(2), 647-661.
[35]. Tversky, A., & Kahneman, D. (1989). Rational choice and the framing of decisions. In Multiple criteria decision making and risk analysis using microcomputers (pp. 81-126). Springer, Berlin, Heidelberg.
[36]. Chaffai, M., & Medhioub, I. (2014). Behavioral finance: An empirical study of the Tunisian stock market. International Journal of Economics and Financial Issues, 4(3), 527-538.
[37]. Leković, M. (2020). Cognitive biases as an integral part of behavioral finance. Economic Themes, 58(1), 75-96.
[38]. Ricciardi, V., & Simon, H. K. (2000). What is behavioral finance?. Business, Education & Technology Journal, 2(2), 1-9.
[39]. Ritter, J. R. (2003). Behavioral finance. Pacific-Basin finance journal, 11(4), 429-437.
[40]. Hirshleifer, D. (2015). Behavioral finance. Annual Review of Financial Economics, 7, 133-159.
[41]. Hilary G, Hui KW (2009). Does religion matter in corporate decision making in America? J. Fin. Econ., 93: 455-73.
[42]. Hong, H., & Kacperczyk, M. (2009). The price of sin: The effects of social norms on markets. Journal of financial economics, 93(1), 15-36.
[43]. Kumar, A. (2009). Who gambles in the stock market?. The Journal of Finance, 64(4), 1889-1933.
[44]. Kumar, A., Page, J. K., & Spalt, O. G. (2011). Religious beliefs, gambling attitudes, and financial market outcomes. Journal of financial economics, 102(3), 671-708.
[45]. McGuire, S. T., Omer, T. C., & Sharp, N. Y. (2012). The impact of religion on financial reporting irregularities. The Accounting Review, 87(2), 645-673.
[46]. Hong, H., & Kostovetsky, L. (2012). Red and blue investing: Values and finance. Journal of Financial Economics, 103(1), 1-19.
[47]. Hutton, I., Jiang, D., & Kumar, A. (2014). Corporate policies of Republican managers. Journal of Financial and Quantitative analysis, 49(5-6), 1279-1310.
[48]. Oprean, C., & Tanasescu, C. (2014). Effects of behavioural finance on emerging capital markets. Procedia Economics and Finance, 15, 1710-1716.
[49]. Economou, F., Hassapis, C., & Philippas, N. (2018). Investors’ fear and herding in the stock market. Applied Economics, 50(34-35), 3654-3663.
[50]. Li, Z., Diao, X., & Wu, C. (2022). The influence of mobile trading on return dispersion and herding behavior. Pacific-Basin Finance Journal, 73, 101767.
[51]. Indārs, E. R., Savin, A., & Lublóy, Á. (2019). Herding behaviour in an emerging market: Evidence from the Moscow Exchange. Emerging Markets Review, 38, 468-487.
[52]. Demirer, R., & Kutan, A. M. (2006). Does herding behavior exist in Chinese stock markets?. Journal of international Financial markets, institutions and money, 16(2), 123-142.
[53]. Choi, K. H., & Yoon, S. M. (2020). Investor sentiment and herding behavior in the Korean stock market. International Journal of Financial Studies, 8(2), 34.
[54]. Brendea, G., & Pop, F. (2019). Herding behavior and financing decisions in Romania. Managerial Finance.
[55]. Barberis, N., & Thaler, R. (2003). A survey of behavioral finance. Handbook of the Economics of Finance, 1, 1053-1128.
[56]. Benartzi, S., & Thaler, R. H. (2001). Naive diversification strategies in defined contribution saving plans. American economic review, 91(1), 79-98.
[57]. French, K. R., & Poterba, J. M. (1991). Investor diversification and international equity markets.
[58]. Lai, S., & Teo, M. (2008). Home-biased analysts in emerging markets. Journal of Financial and Quantitative Analysis, 43(3), 685-716.
[59]. Graham, J. R., Harvey, C. R., & Huang, H. (2009). Investor competence, trading frequency, and home bias. Management Science, 55(7), 1094-1106.
[60]. Kim, G. H., & Kim, H. (2022). Non-fundamental home bias in international equity markets. International Economics, 170, 213-234.
[61]. Lin, L., & Puchniak, D. W. (2022). Institutional Investors in China: Corporate Governance and Policy Channeling in the Market Within the State. Columbia Journal of Asian Law, 35(1), 74-159.
[62]. Chen, G. M., Kim, K. A., Nofsinger, J. R., & Rui, O. M. (2004). Behavior and performance of emerging market investors: Evidence from China. Unpublished Washington State University Working paper (January).
[63]. Lucey, B. M., & Dowling, M. (2013). Cultural behavioral finance in emerging markets. Emerging Markets and the Global Economy: A Handbook, 327.
[64]. Leković, M. (2020). Cognitive biases as an integral part of behavioral finance. Economic Themes, 58(1), 75-96.
[65]. Bateman, H., Eckert, C., Iskhakov, F., Louviere, J., Satchell, S., & Thorp, S. (2017). Default and naive diversification heuristics in annuity choice. Australian Journal of Management, 42(1), 32-57.
[66]. Bansal, T. (2020). Behavioral finance and COVID-19: cognitive errors that determine the financial future. Available at SSRN 3595749.
[67]. Indārs, E. R., Savin, A., & Lublóy, Á. (2019). Herding behaviour in an emerging market: Evidence from the Moscow Exchange. Emerging Markets Review, 38, 468-487.
[68]. Jiang, R., Wen, C., Zhang, R., & Cui, Y. (2022). Investor's herding behavior in Asian equity markets during COVID-19 period. Pacific-Basin Finance Journal, 73, 101771.
[69]. Ririn Stefani Silitonga, Isfenti Sadalia, Amlys Syahputra Silalahi. (2021). Analysis of Herding Behavior in Developing Countries. International Journal of Research and Review. Vol.8; Issue: 12
[70]. Hirshleifer, D. (2001). Investor psychology and asset pricing. Journal of Finance, 56, 1533-1597.
[71]. Thaler, R. H., Tversky, A., Kahneman, D., & Schwartz, A. (1997). The effect of myopia and loss aversion on risk taking: An experimental test. The quarterly journal of economics, 112(2), 647-661.
[72]. Tversky, A., & Kahneman, D. (1989). Rational choice and the framing of decisions. In Multiple criteria decision making and risk analysis using microcomputers (pp. 81-126). Springer, Berlin, Heidelberg.
[73]. Chaffai, M., & Medhioub, I. (2014). Behavioral finance: An empirical study of the Tunisian stock market. International Journal of Economics and Financial Issues, 4(3), 527-538.
[74]. Leković, M. (2020). Cognitive biases as an integral part of behavioral finance. Economic Themes, 58(1), 75-96.
Cite this article
Zhang,M. (2023). Empirical Evidence of Cognitive Biases among Chinese Investors. Advances in Economics, Management and Political Sciences,9,205-210.
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References
[1]. Ricciardi, V., & Simon, H. K. (2000). What is behavioral finance?. Business, Education & Technology Journal, 2(2), 1-9.
[2]. Ritter, J. R. (2003). Behavioral finance. Pacific-Basin finance journal, 11(4), 429-437.
[3]. Hirshleifer, D. (2015). Behavioral finance. Annual Review of Financial Economics, 7, 133-159.
[4]. Hilary G, Hui KW (2009). Does religion matter in corporate decision making in America? J. Fin. Econ., 93: 455-73.
[5]. Hong, H., & Kacperczyk, M. (2009). The price of sin: The effects of social norms on markets. Journal of financial economics, 93(1), 15-36.
[6]. Kumar, A. (2009). Who gambles in the stock market?. The Journal of Finance, 64(4), 1889-1933.
[7]. Kumar, A., Page, J. K., & Spalt, O. G. (2011). Religious beliefs, gambling attitudes, and financial market outcomes. Journal of financial economics, 102(3), 671-708.
[8]. McGuire, S. T., Omer, T. C., & Sharp, N. Y. (2012). The impact of religion on financial reporting irregularities. The Accounting Review, 87(2), 645-673.
[9]. Hong, H., & Kostovetsky, L. (2012). Red and blue investing: Values and finance. Journal of Financial Economics, 103(1), 1-19.
[10]. Hutton, I., Jiang, D., & Kumar, A. (2014). Corporate policies of Republican managers. Journal of Financial and Quantitative analysis, 49(5-6), 1279-1310.
[11]. Oprean, C., & Tanasescu, C. (2014). Effects of behavioural finance on emerging capital markets. Procedia Economics and Finance, 15, 1710-1716.
[12]. Economou, F., Hassapis, C., & Philippas, N. (2018). Investors’ fear and herding in the stock market. Applied Economics, 50(34-35), 3654-3663.
[13]. Li, Z., Diao, X., & Wu, C. (2022). The influence of mobile trading on return dispersion and herding behavior. Pacific-Basin Finance Journal, 73, 101767.
[14]. Indārs, E. R., Savin, A., & Lublóy, Á. (2019). Herding behaviour in an emerging market: Evidence from the Moscow Exchange. Emerging Markets Review, 38, 468-487.
[15]. Demirer, R., & Kutan, A. M. (2006). Does herding behavior exist in Chinese stock markets?. Journal of international Financial markets, institutions and money, 16(2), 123-142.
[16]. Choi, K. H., & Yoon, S. M. (2020). Investor sentiment and herding behavior in the Korean stock market. International Journal of Financial Studies, 8(2), 34.
[17]. Brendea, G., & Pop, F. (2019). Herding behavior and financing decisions in Romania. Managerial Finance.
[18]. Barberis, N., & Thaler, R. (2003). A survey of behavioral finance. Handbook of the Economics of Finance, 1, 1053-1128.
[19]. Benartzi, S., & Thaler, R. H. (2001). Naive diversification strategies in defined contribution saving plans. American economic review, 91(1), 79-98.
[20]. French, K. R., & Poterba, J. M. (1991). Investor diversification and international equity markets.
[21]. Lai, S., & Teo, M. (2008). Home-biased analysts in emerging markets. Journal of Financial and Quantitative Analysis, 43(3), 685-716.
[22]. Graham, J. R., Harvey, C. R., & Huang, H. (2009). Investor competence, trading frequency, and home bias. Management Science, 55(7), 1094-1106.
[23]. Kim, G. H., & Kim, H. (2022). Non-fundamental home bias in international equity markets. International Economics, 170, 213-234.
[24]. Lin, L., & Puchniak, D. W. (2022). Institutional Investors in China: Corporate Governance and Policy Channeling in the Market Within the State. Columbia Journal of Asian Law, 35(1), 74-159.
[25]. Chen, G. M., Kim, K. A., Nofsinger, J. R., & Rui, O. M. (2004). Behavior and performance of emerging market investors: Evidence from China. Unpublished Washington State University Working paper (January).
[26]. Lucey, B. M., & Dowling, M. (2013). Cultural behavioral finance in emerging markets. Emerging Markets and the Global Economy: A Handbook, 327.
[27]. Leković, M. (2020). Cognitive biases as an integral part of behavioral finance. Economic Themes, 58(1), 75-96.
[28]. Bateman, H., Eckert, C., Iskhakov, F., Louviere, J., Satchell, S., & Thorp, S. (2017). Default and naive diversification heuristics in annuity choice. Australian Journal of Management, 42(1), 32-57.
[29]. Bansal, T. (2020). Behavioral finance and COVID-19: cognitive errors that determine the financial future. Available at SSRN 3595749.
[30]. Indārs, E. R., Savin, A., & Lublóy, Á. (2019). Herding behaviour in an emerging market: Evidence from the Moscow Exchange. Emerging Markets Review, 38, 468-487.
[31]. Jiang, R., Wen, C., Zhang, R., & Cui, Y. (2022). Investor's herding behavior in Asian equity markets during COVID-19 period. Pacific-Basin Finance Journal, 73, 101771.
[32]. Ririn Stefani Silitonga, Isfenti Sadalia, Amlys Syahputra Silalahi. (2021). Analysis of Herding Behavior in Developing Countries. International Journal of Research and Review. Vol.8; Issue: 12
[33]. Hirshleifer, D. (2001). Investor psychology and asset pricing. Journal of Finance, 56, 1533-1597.
[34]. Thaler, R. H., Tversky, A., Kahneman, D., & Schwartz, A. (1997). The effect of myopia and loss aversion on risk taking: An experimental test. The quarterly journal of economics, 112(2), 647-661.
[35]. Tversky, A., & Kahneman, D. (1989). Rational choice and the framing of decisions. In Multiple criteria decision making and risk analysis using microcomputers (pp. 81-126). Springer, Berlin, Heidelberg.
[36]. Chaffai, M., & Medhioub, I. (2014). Behavioral finance: An empirical study of the Tunisian stock market. International Journal of Economics and Financial Issues, 4(3), 527-538.
[37]. Leković, M. (2020). Cognitive biases as an integral part of behavioral finance. Economic Themes, 58(1), 75-96.
[38]. Ricciardi, V., & Simon, H. K. (2000). What is behavioral finance?. Business, Education & Technology Journal, 2(2), 1-9.
[39]. Ritter, J. R. (2003). Behavioral finance. Pacific-Basin finance journal, 11(4), 429-437.
[40]. Hirshleifer, D. (2015). Behavioral finance. Annual Review of Financial Economics, 7, 133-159.
[41]. Hilary G, Hui KW (2009). Does religion matter in corporate decision making in America? J. Fin. Econ., 93: 455-73.
[42]. Hong, H., & Kacperczyk, M. (2009). The price of sin: The effects of social norms on markets. Journal of financial economics, 93(1), 15-36.
[43]. Kumar, A. (2009). Who gambles in the stock market?. The Journal of Finance, 64(4), 1889-1933.
[44]. Kumar, A., Page, J. K., & Spalt, O. G. (2011). Religious beliefs, gambling attitudes, and financial market outcomes. Journal of financial economics, 102(3), 671-708.
[45]. McGuire, S. T., Omer, T. C., & Sharp, N. Y. (2012). The impact of religion on financial reporting irregularities. The Accounting Review, 87(2), 645-673.
[46]. Hong, H., & Kostovetsky, L. (2012). Red and blue investing: Values and finance. Journal of Financial Economics, 103(1), 1-19.
[47]. Hutton, I., Jiang, D., & Kumar, A. (2014). Corporate policies of Republican managers. Journal of Financial and Quantitative analysis, 49(5-6), 1279-1310.
[48]. Oprean, C., & Tanasescu, C. (2014). Effects of behavioural finance on emerging capital markets. Procedia Economics and Finance, 15, 1710-1716.
[49]. Economou, F., Hassapis, C., & Philippas, N. (2018). Investors’ fear and herding in the stock market. Applied Economics, 50(34-35), 3654-3663.
[50]. Li, Z., Diao, X., & Wu, C. (2022). The influence of mobile trading on return dispersion and herding behavior. Pacific-Basin Finance Journal, 73, 101767.
[51]. Indārs, E. R., Savin, A., & Lublóy, Á. (2019). Herding behaviour in an emerging market: Evidence from the Moscow Exchange. Emerging Markets Review, 38, 468-487.
[52]. Demirer, R., & Kutan, A. M. (2006). Does herding behavior exist in Chinese stock markets?. Journal of international Financial markets, institutions and money, 16(2), 123-142.
[53]. Choi, K. H., & Yoon, S. M. (2020). Investor sentiment and herding behavior in the Korean stock market. International Journal of Financial Studies, 8(2), 34.
[54]. Brendea, G., & Pop, F. (2019). Herding behavior and financing decisions in Romania. Managerial Finance.
[55]. Barberis, N., & Thaler, R. (2003). A survey of behavioral finance. Handbook of the Economics of Finance, 1, 1053-1128.
[56]. Benartzi, S., & Thaler, R. H. (2001). Naive diversification strategies in defined contribution saving plans. American economic review, 91(1), 79-98.
[57]. French, K. R., & Poterba, J. M. (1991). Investor diversification and international equity markets.
[58]. Lai, S., & Teo, M. (2008). Home-biased analysts in emerging markets. Journal of Financial and Quantitative Analysis, 43(3), 685-716.
[59]. Graham, J. R., Harvey, C. R., & Huang, H. (2009). Investor competence, trading frequency, and home bias. Management Science, 55(7), 1094-1106.
[60]. Kim, G. H., & Kim, H. (2022). Non-fundamental home bias in international equity markets. International Economics, 170, 213-234.
[61]. Lin, L., & Puchniak, D. W. (2022). Institutional Investors in China: Corporate Governance and Policy Channeling in the Market Within the State. Columbia Journal of Asian Law, 35(1), 74-159.
[62]. Chen, G. M., Kim, K. A., Nofsinger, J. R., & Rui, O. M. (2004). Behavior and performance of emerging market investors: Evidence from China. Unpublished Washington State University Working paper (January).
[63]. Lucey, B. M., & Dowling, M. (2013). Cultural behavioral finance in emerging markets. Emerging Markets and the Global Economy: A Handbook, 327.
[64]. Leković, M. (2020). Cognitive biases as an integral part of behavioral finance. Economic Themes, 58(1), 75-96.
[65]. Bateman, H., Eckert, C., Iskhakov, F., Louviere, J., Satchell, S., & Thorp, S. (2017). Default and naive diversification heuristics in annuity choice. Australian Journal of Management, 42(1), 32-57.
[66]. Bansal, T. (2020). Behavioral finance and COVID-19: cognitive errors that determine the financial future. Available at SSRN 3595749.
[67]. Indārs, E. R., Savin, A., & Lublóy, Á. (2019). Herding behaviour in an emerging market: Evidence from the Moscow Exchange. Emerging Markets Review, 38, 468-487.
[68]. Jiang, R., Wen, C., Zhang, R., & Cui, Y. (2022). Investor's herding behavior in Asian equity markets during COVID-19 period. Pacific-Basin Finance Journal, 73, 101771.
[69]. Ririn Stefani Silitonga, Isfenti Sadalia, Amlys Syahputra Silalahi. (2021). Analysis of Herding Behavior in Developing Countries. International Journal of Research and Review. Vol.8; Issue: 12
[70]. Hirshleifer, D. (2001). Investor psychology and asset pricing. Journal of Finance, 56, 1533-1597.
[71]. Thaler, R. H., Tversky, A., Kahneman, D., & Schwartz, A. (1997). The effect of myopia and loss aversion on risk taking: An experimental test. The quarterly journal of economics, 112(2), 647-661.
[72]. Tversky, A., & Kahneman, D. (1989). Rational choice and the framing of decisions. In Multiple criteria decision making and risk analysis using microcomputers (pp. 81-126). Springer, Berlin, Heidelberg.
[73]. Chaffai, M., & Medhioub, I. (2014). Behavioral finance: An empirical study of the Tunisian stock market. International Journal of Economics and Financial Issues, 4(3), 527-538.
[74]. Leković, M. (2020). Cognitive biases as an integral part of behavioral finance. Economic Themes, 58(1), 75-96.