Explanations determine the impact of information on financial investment judgments
| Autor: | Elizabeth J. Mulligan, Reid Hastie |
|---|---|
| Rok vydání: | 2005 |
| Předmět: |
Sociology and Political Science
Strategy and Management General Decision Sciences Investment (macroeconomics) Affect (psychology) Outcome (game theory) Comprehension Investment decisions Arts and Humanities (miscellaneous) Order (exchange) Economics Mental representation Narrative Social psychology Applied Psychology |
| Zdroj: | Journal of Behavioral Decision Making. 18:145-156 |
| ISSN: | 1099-0771 0894-3257 |
| DOI: | 10.1002/bdm.491 |
| Popis: | Previous research has shown that some types of judgments are influenced by the results of an explanation-seeking comprehension process. The present experiments investigated novice investors' stock price forecasts and investment decisions. Information presented in a narrative story order was hypothesized to promote the construction of a coherent mental representation that would affect how information was interpreted and subsequently used to predict stock price changes. The results showed that outcome information had a distinctively high impact, but only when the information was read in story order. These results imply that presentation order affects the mental representation of evidence relevant to the forecast, and the form of that mental representation moderates the impact of individual pieces of information on the ultimate judgment. Copyright © 2005 John Wiley & Sons, Ltd. |
| Databáze: | OpenAIRE |
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