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Knowledge and Beliefs About Behavioral Biases

Authors: Huber, Jürgen; Kirchler, Michael; Steinbacher, Teresa;

Knowledge and Beliefs About Behavioral Biases

Abstract

In this study we explore the knowledge and beliefs regarding behavioral biases among behavioral scientists, financial professionals, and the general population. We investigate knowledge about ten prominent biases and collect beliefs about the knowledge levels of each of these subject pools by conducting an online survey with 547 participants. We find that knowledge about the selected biases is highest among behavioral scientists and lowest in the general population. Potential explanatory variables, such as age, gender, income, and financial literacy, show almost no impact on knowledge levels. Regarding accuracy of beliefs about knowledge of the own and the other groups, each subject pool has the highest accuracy rates for their own group, and behavioral scientists assessing other behavioral scientists have by far the highest accuracy rate.

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Keywords

ddc:330, C91, G53, financial professionals, Behavioral biases, expert beliefs, behavioral scientists, G40

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selected citations
These citations are derived from selected sources.
This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Citations provided by BIP!
popularity
This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
BIP!Popularity provided by BIP!
influence
This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Influence provided by BIP!
impulse
This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
BIP!Impulse provided by BIP!
0
Average
Average
Average
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