{"id":"https://openalex.org/W2107756167","doi":"https://doi.org/10.3233/af-2011-005","title":"Behavioral biases and investor performance1","display_name":"Behavioral biases and investor performance1","publication_year":2011,"publication_date":"2011-12-23","ids":{"openalex":"https://openalex.org/W2107756167","doi":"https://doi.org/10.3233/af-2011-005","mag":"2107756167"},"language":"en","primary_location":{"id":"doi:10.3233/af-2011-005","is_oa":false,"landing_page_url":"https://doi.org/10.3233/af-2011-005","pdf_url":null,"source":{"id":"https://openalex.org/S4210198154","display_name":"Algorithmic Finance","issn_l":"2157-6203","issn":["2157-6203","2158-5571"],"is_oa":false,"is_in_doaj":false,"is_core":true,"host_organization":"https://openalex.org/P4310318577","host_organization_name":"IOS Press","host_organization_lineage":["https://openalex.org/P4310318577"],"host_organization_lineage_names":["IOS Press"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Algorithmic Finance","raw_type":"journal-article"},"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"https://papers.ssrn.com/sol3/Delivery.cfm?abstractid=1957799","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5048969853","display_name":"Todd Feldman","orcid":"https://orcid.org/0000-0001-5841-8416"},"institutions":[{"id":"https://openalex.org/I71838634","display_name":"San Francisco State University","ror":"https://ror.org/05ykr0121","country_code":"US","type":"education","lineage":["https://openalex.org/I71838634"]}],"countries":["US"],"is_corresponding":true,"raw_author_name":"Todd Feldman","raw_affiliation_strings":["Finance Department, San Francisco State University, San Francisco, CA, 94122. 1600 Holloway Street. San Francisco, CA 94122, USA. Phone: , Email: tfeldman@sfsu.edu","San Francisco State University - College of Business"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Finance Department, San Francisco State University, San Francisco, CA, 94122. 1600 Holloway Street. San Francisco, CA 94122, USA. Phone: , Email: tfeldman@sfsu.edu","institution_ids":["https://openalex.org/I71838634"]},{"raw_affiliation_string":"San Francisco State University - College of Business","institution_ids":["https://openalex.org/I71838634"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":["https://openalex.org/A5048969853"],"corresponding_institution_ids":["https://openalex.org/I71838634"],"apc_list":null,"apc_paid":null,"fwci":0.4273,"has_fulltext":false,"cited_by_count":2,"citation_normalized_percentile":{"value":0.73418837,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":{"min":90,"max":94},"biblio":{"volume":"1","issue":"1","first_page":"45","last_page":"55"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.9994999766349792,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.9994999766349792,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10315","display_name":"Decision-Making and Behavioral Economics","score":0.9883000254631042,"subfield":{"id":"https://openalex.org/subfields/1800","display_name":"General Decision Sciences"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11059","display_name":"Market Dynamics and Volatility","score":0.9840999841690063,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/loss-aversion","display_name":"Loss aversion","score":0.8168725967407227},{"id":"https://openalex.org/keywords/anchoring","display_name":"Anchoring","score":0.7148619294166565},{"id":"https://openalex.org/keywords/behavioral-economics","display_name":"Behavioral economics","score":0.5697355270385742},{"id":"https://openalex.org/keywords/economics","display_name":"Economics","score":0.5649532675743103},{"id":"https://openalex.org/keywords/financial-economics","display_name":"Financial economics","score":0.43273982405662537},{"id":"https://openalex.org/keywords/investor-behavior","display_name":"Investor behavior","score":0.41234248876571655},{"id":"https://openalex.org/keywords/econometrics","display_name":"Econometrics","score":0.4119088053703308},{"id":"https://openalex.org/keywords/monetary-economics","display_name":"Monetary economics","score":0.3866865634918213},{"id":"https://openalex.org/keywords/microeconomics","display_name":"Microeconomics","score":0.33085113763809204},{"id":"https://openalex.org/keywords/psychology","display_name":"Psychology","score":0.3028520345687866},{"id":"https://openalex.org/keywords/social-psychology","display_name":"Social psychology","score":0.15632173418998718}],"concepts":[{"id":"https://openalex.org/C2778174566","wikidata":"https://www.wikidata.org/wiki/Q2874240","display_name":"Loss aversion","level":2,"score":0.8168725967407227},{"id":"https://openalex.org/C18483071","wikidata":"https://www.wikidata.org/wiki/Q168432","display_name":"Anchoring","level":2,"score":0.7148619294166565},{"id":"https://openalex.org/C109574028","wikidata":"https://www.wikidata.org/wiki/Q647525","display_name":"Behavioral economics","level":2,"score":0.5697355270385742},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.5649532675743103},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.43273982405662537},{"id":"https://openalex.org/C2992558192","wikidata":"https://www.wikidata.org/wiki/Q647525","display_name":"Investor behavior","level":3,"score":0.41234248876571655},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.4119088053703308},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.3866865634918213},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.33085113763809204},{"id":"https://openalex.org/C15744967","wikidata":"https://www.wikidata.org/wiki/Q9418","display_name":"Psychology","level":0,"score":0.3028520345687866},{"id":"https://openalex.org/C77805123","wikidata":"https://www.wikidata.org/wiki/Q161272","display_name":"Social psychology","level":1,"score":0.15632173418998718},{"id":"https://openalex.org/C86803240","wikidata":"https://www.wikidata.org/wiki/Q420","display_name":"Biology","level":0,"score":0.0},{"id":"https://openalex.org/C2777267654","wikidata":"https://www.wikidata.org/wiki/Q3519023","display_name":"Test (biology)","level":2,"score":0.0},{"id":"https://openalex.org/C151730666","wikidata":"https://www.wikidata.org/wiki/Q7205","display_name":"Paleontology","level":1,"score":0.0}],"mesh":[],"locations_count":3,"locations":[{"id":"doi:10.3233/af-2011-005","is_oa":false,"landing_page_url":"https://doi.org/10.3233/af-2011-005","pdf_url":null,"source":{"id":"https://openalex.org/S4210198154","display_name":"Algorithmic Finance","issn_l":"2157-6203","issn":["2157-6203","2158-5571"],"is_oa":false,"is_in_doaj":false,"is_core":true,"host_organization":"https://openalex.org/P4310318577","host_organization_name":"IOS Press","host_organization_lineage":["https://openalex.org/P4310318577"],"host_organization_lineage_names":["IOS Press"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Algorithmic Finance","raw_type":"journal-article"},{"id":"mag:2107756167","is_oa":true,"landing_page_url":"https://papers.ssrn.com/sol3/Delivery.cfm?abstractid=1957799","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"SSRN Electronic Journal","raw_type":null},{"id":"pmh:oai:RePEc:ris:iosalg:0005","is_oa":false,"landing_page_url":null,"pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"}],"best_oa_location":{"id":"mag:2107756167","is_oa":true,"landing_page_url":"https://papers.ssrn.com/sol3/Delivery.cfm?abstractid=1957799","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"SSRN Electronic Journal","raw_type":null},"sustainable_development_goals":[{"display_name":"Partnerships for the goals","id":"https://metadata.un.org/sdg/17","score":0.46000000834465027}],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":9,"referenced_works":["https://openalex.org/W1816844022","https://openalex.org/W1974701066","https://openalex.org/W1976781093","https://openalex.org/W2062337087","https://openalex.org/W2076712453","https://openalex.org/W2098628351","https://openalex.org/W2151666381","https://openalex.org/W2157323155","https://openalex.org/W3125469568"],"related_works":["https://openalex.org/W3121892086","https://openalex.org/W3123254948","https://openalex.org/W3128569158","https://openalex.org/W3125314498","https://openalex.org/W2745171348","https://openalex.org/W299999026","https://openalex.org/W2110404195","https://openalex.org/W3179649114","https://openalex.org/W3190510781","https://openalex.org/W2592725624","https://openalex.org/W3125473318","https://openalex.org/W1497134858","https://openalex.org/W2914204469","https://openalex.org/W1522766317","https://openalex.org/W2112906383","https://openalex.org/W3018880243","https://openalex.org/W321402485","https://openalex.org/W1495909108","https://openalex.org/W2110845342","https://openalex.org/W2166225202"],"abstract_inverted_index":{"Research":[0],"indicates":[1],"that":[2,40],"individual":[3,56],"investors":[4],"trade":[5],"excessively":[6],"and":[7,13,79],"underperform":[8],"the":[9,46,51,64],"market":[10],"indices,":[11],"Barber":[12],"Odean":[14],"(2000).":[15],"The":[16],"purpose":[17],"of":[18],"this":[19,32],"paper":[20],"is":[21,50,63],"to":[22,67],"help":[23],"explain":[24,31,68],"which":[25],"behavioral":[26],"biases,":[27],"if":[28],"any,":[29],"can":[30],"result":[33],"using":[34],"a":[35],"simulation":[36],"approach.":[37],"Results":[38],"indicate":[39],"putting":[41],"too":[42],"much":[43],"weight":[44],"on":[45],"current":[47],"environment,":[48],"anchoring,":[49],"largest":[52,65],"factor":[53,66],"in":[54],"explaining":[55],"investor":[57],"underperformance.":[58],"In":[59],"addition,":[60],"loss":[61],"aversion":[62],"excessive":[69],"trading.":[70],"When":[71],"these":[72],"two":[73],"biases":[74],"are":[75,81],"combined":[76],"trading":[77],"activity":[78],"underperformance":[80],"heightened.":[82]},"counts_by_year":[{"year":2018,"cited_by_count":1},{"year":2013,"cited_by_count":1}],"updated_date":"2026-05-21T06:26:12.895304","created_date":"2025-10-10T00:00:00"}
