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Paper Abstract and Keywords
Presentation 2008-03-06 15:25
The Influence of market trend and investors' risk attitude on their investment behavior
Yuto Iwasaki, Kazuhiro Ueda (The Univ. of Tokyo), Yusuke Ito (Simplex Institute Inc.), Kiyoshi Izumi (AIST) AI2007-57
Abstract (in Japanese) (See Japanese page) 
(in English) The purpose of this research is to experimentally clarify the influence of market factors (market trend and volatility) and investors’ individual factors (risk attitude and degree of proficiency) on their investment behavior. We measured, using lottery choice questions, the risk attitude of 5 professional traders and 11 personal investors. We also observed their market behavior in an experimental market in which stock prices were controlled. As a result, the following three things were clarified: First, market factors influenced only on their risk-taking behavior; second, it was affected not by market factors but by their risk attitude whether they followed market trends or not; finally, disposition effect was affected only by degree of proficiency, which meant that professional traders could avoid disposition effect.
Keyword (in Japanese) (See Japanese page) 
(in English) investment behavior / risk attitude / decision making / artificial market / / / /  
Reference Info. IEICE Tech. Rep., vol. 107, no. 523, AI2007-57, pp. 79-84, March 2008.
Paper # AI2007-57 
Date of Issue 2008-02-27 (AI) 
ISSN Print edition: ISSN 0913-5685    Online edition: ISSN 2432-6380
Copyright
and
reproduction		 All rights are reserved and no part of this publication may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording, or any information storage and retrieval system, without permission in writing from the publisher. Notwithstanding, instructors are permitted to photocopy isolated articles for noncommercial classroom use without fee. (License No.: 10GA0019/12GB0052/13GB0056/17GB0034/18GB0034)
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Conference Information
Committee AI IPSJ-ICS  
Conference Date 2008-03-05 - 2008-03-07 
Place (in Japanese) (See Japanese page) 
Place (in English)  
Topics (in Japanese) (See Japanese page) 
Topics (in English)  
Paper Information
Registration To AI 
Conference Code 2008-03-AI-ICS 
Language Japanese 
Title (in Japanese) (See Japanese page) 
Sub Title (in Japanese) (See Japanese page) 
Title (in English) The Influence of market trend and investors' risk attitude on their investment behavior 
Sub Title (in English)  
Keyword(1) investment behavior  
Keyword(2) risk attitude  
Keyword(3) decision making  
Keyword(4) artificial market  
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1st Author's Name Yuto Iwasaki  
1st Author's Affiliation The University of Tokyo (The Univ. of Tokyo)
2nd Author's Name Kazuhiro Ueda  
2nd Author's Affiliation The University of Tokyo (The Univ. of Tokyo)
3rd Author's Name Yusuke Ito  
3rd Author's Affiliation Simplex Institute Inc. (Simplex Institute Inc.)
4th Author's Name Kiyoshi Izumi  
4th Author's Affiliation National Institute of Advanced Industrial Science and Technology (AIST)
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Speaker Author-1 
Date Time 2008-03-06 15:25:00 
Presentation Time 25 minutes 
Registration for AI 
Paper # AI2007-57 
Volume (vol) vol.107 
Number (no) no.523 
Page pp.79-84 
#Pages 6 
Date of Issue 2008-02-27 (AI) 

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