市场中一厢情愿思维的传染

Contagion of Wishful Thinking in Markets

Management Science · 2009
被引 70
人大 A+FT50UTD24ABS 4*

中文导读

实验发现,在实验室金融市场中,人们因一厢情愿而加大赌注的行为会误导他人,使其误以为这些赌徒掌握了有利信息,从而导致一厢情愿思维在市场互动中扩散而非减弱。

Abstract

Prior research provides only weak and controversial evidence that people overestimate the likelihood of desirable events (wishful thinking), but strong evidence that people bet more heavily on those events (wishful betting). Two experiments show that wishful betting contaminates beliefs in laboratory financial markets because wishful betters appear to possess more favorable information than they actually do. As a consequence, market interaction exacerbates rather than mitigates wishful thinking. This phenomenon, “contagion of wishful thinking,” could be problematic in many settings where people infer others' beliefs from their behavior.

一厢情愿传染市场信念信息推断行为金融