文章基本信息

标题：The Formation of Rational and Irrational Behaviors in Risky Investment Decision Making: Laboratory Experiment of Coping Theory Implication in Investors’ Adaptation Model
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作者：Wendy ; Wendy ; Marwan Asri 等
期刊名称：Indonesian Capital Market Review
印刷版ISSN：1979-8997
电子版ISSN：2356-3818
出版年度：2012
卷号：4
期号：2
页码：51-64
DOI：10.21002/icmr.v4i2.3615
语种：English
出版社：Universitas Indonesia
摘要：This study analyzes the stock investor’s rational and irrational behavior formation through Investor’s Adaptation model.Hypotheses testings were conducted by manipulating four market conditions using between-subject experimental design.The results supported the hypotheses proposed in this study.When given treatment one (opportunity-high control),investors tended to adapt the profit maximizing strategy (rational).Meanwhile,when given treatment two (opportunity-low control),three (threat-high control) and four (threat-low control),they tended to adapt the profit satisfying strategy (rational-emotional),bad news handling strategy (emotional-rational),and self-preserving strategy (irrational) respectively.The application of rational strategies are intended to obtain personal benefits and profit,while adapting irrational strategy is intended to recover emotional stability and reduce some other tensions.Another finding showed that for the investors,the relatively irrational decision formation was “harder” than that of rational.
关键词：Rational and irrational behaviors;coping;primary and secondary appraisal;Investor’s Adaptation model;adaptation strategies