Pengujian Bias Perilaku: Gambler’s Fallacy, Halo Effect, Dan Familiarity Effect Di Pasar Modal Indonesia

Djojopranoto, Riana Rahmawati; Mahadwartha, Putu Anom

doi:10.21002/jaki.2016.08

Cited by 8 publications

(24 citation statements)

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“…Behaviour bias then causes errors when predicting random events. According to Djojopranoto and Mahadwartha (2016), the prediction error can be described in the form of behaviour, one of which is gambler's fallacy.…”

Section: Behavioural Financementioning

confidence: 99%

“…During an uptrend, investors with a gambler's fallacy bias will tend to avoid buying shares that have previously experienced price increases with the assumption that in the future periods there will be a greater price decline. Conversely, when a downtrend occurs, investors with a gambler's fallacy bias will tend to buy shares that previously experienced a price decline assuming that in the future periods there will be a greater price increase (Djojopranoto and Mahadwartha, 2016). Based on theoretical studies and some previous research, the appropriate hypothesis for the behavioural bias of gambler's fallacy is as follows.…”

Section: Gambler's Fallacy As Behavioural Biasmentioning

confidence: 99%

“…As a result, investors tend to be irrational in making investment decisions. An investor is named to be rational if he has the ability to manage various incoming information perfectly (Djojopranoto and Mahadwartha, 2016).…”

Section: Introductionmentioning

confidence: 99%

“…Behavioural finance is a concept for understanding investor behaviour patterns in decision making (Puspitaningtyas, 2014). When making investment decisions, investors tend to use intuition and feelings rather than gathering enough information (Djojopranoto and Mahadwartha, 2016). Humans often use heuristic patterns in investment decision making because of the limited time and information available (Onsomu, 2014).…”

Section: Introductionmentioning

confidence: 99%

“…Behavioural bias that can influence an investor's decision making is gambler's fallacy, halo effect and familiarity effect (Djojopranoto and Mahadwartha, 2016). According to Odean (1998), an investor will experience gambler's fallacy when making investment decisions the same as when doing gambling.…”

Section: Introductionmentioning

confidence: 99%

See 4 more Smart Citations

Gambler's Fallacy as Behavioural Bias Of Young Investor

Wijayanti

Suganda

Thewelis

2019

jobbe

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This research aims to identify the behavioural bias of Gambler's Fallacy of young investors in Malang. This research was done by doing a survey method i.e. doing the dissemination of questionnaires to young investors in Malang. The number of samples gained from questionnaires were 108 respondents. questionnaires were assessed using Likert scale and analysed by using non-parametric test: Chi Square Test and Wilcoxon Signed-Rank Test to answer the hypothesis and research questions. The results showed that behavioural bias of Gambler’s Fallacy on young investors in Malang when they trade in uptrend and downtrend stock market with an equal probability. Based on the results, this research concluded that in making trading decisions, young investors in Malang are still very influenced by psychological factors and tend to follow their personal intuition. This shows that weak-form efficiency is inefficient.

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Section: Behavioural Financementioning

confidence: 99%

Section: Gambler's Fallacy As Behavioural Biasmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

See 3 more Smart Citations

Gambler's Fallacy as Behavioural Bias Of Young Investor

Wijayanti

Suganda

Thewelis

2019

jobbe

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Have Students Comprehended Investment?

Gainau¹

2020

JAI

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Research aims: This study aims to examine factors that influence stock investment intention among students. Design/Methodology/Approach: The population in this study are all individual student investors registered at the Indonesia Stock Exchange Investment Gallery in the North Sulawesi and Gorontalo Regions. Sample selection is based on the purposive sampling method. Data analysis was performed with SmartPLS 3.0 M3. Research findings: The results found that student attitudes are determined by employment opportunities in the capital market. In addition, attitudes and behavioral control also have significant effect on student intention. This is different with subjective norms which does not affect student investment intention. Theoretical contribution/ Originality: This research confirm that job opportunity influences students attitude in stock investment. The attitude and perceived behavioral control support students intention to invest stock in capital market. Subjective norms does not effect to students intention, in the context of students in the North Sulawesi and Gorontalo Regions. Practitioner/Policy implication: The implication is the universities need to make policies which is friendly with stock investment, such us Seminars, Workshops, Capital Market Schools, and Securities Traders Representative Courses (WPPE). The Indonesian Stock Exchange (Representative Office) and Exchange Members also need to increase an internship quota in order to support student investment intentions. Research limitation/Implication: This study only examines the stage of student intentions because the sample is student whose main activity is studying and the additional activity is investing.

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Testing of behavior bias

Darwis¹,

Suwito²,

Jhay

2022

IJRBS

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This study aims to (i) test the behavior bias of gamblers fallacy occurs at the time of uptrend and downtrend conditions; (ii) test the behavior bias of halo effect occurs at the time of uptrend and downtrend conditions; and (iii) test the behavior bias of familiarity effect occurs at the time of uptrend and downtrend conditions. The number of samples in the study was as many as 41 people. The test equipment used is One-Sample t-Test and Paired t-Test by using statistical package for social scientists (SPSS) as a static test tool. The results of this study show that: (i) Gamblers' fallacy that occurs when the uptrend condition is greater than when the condition is downtrend; (ii) Halo effect that occurs when the uptrend condition is greater than when the downtrend condition; (iii) Familiarity effect that occurs when the uptrend condition is greater than when the downtrend condition.

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Pengujian Bias Perilaku: Gambler’s Fallacy, Halo Effect, Dan Familiarity Effect Di Pasar Modal Indonesia

Cited by 8 publications

References 0 publications

Gambler's Fallacy as Behavioural Bias Of Young Investor

Gambler's Fallacy as Behavioural Bias Of Young Investor

Have Students Comprehended Investment?

Testing of behavior bias

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