TY - JOUR
T1 - Retail vs. private investors: are gains and losses perceived differently?
AU - Lippi, Andrea
PY - 2017
Y1 - 2017
N2 - The aim of this paper is to test whether the investors’ initial starting capitals and the macroeconomic context may influence their gains and losses perception. To this purpose, our analysis, for the first time in the literature on the topic, considers and compares two samples of investors, private and retail, examined in two different years, 2015 and 2009. Based on the answers obtained from specifically devised questionnaires, the paper is organised in three steps of analysis to: 1) test the differences in gain and loss perception; 2) check the level of satisfaction/dissatisfaction in situations of gain and loss; 3) test the tendency to preserve the status quo. The results obtained demonstrate that private and retail investors perceive gains and losses differently, even if a convergence over the years between the two samples examined is observed. Maintaining the status quo is the main goal for private investors.
AB - The aim of this paper is to test whether the investors’ initial starting capitals and the macroeconomic context may influence their gains and losses perception. To this purpose, our analysis, for the first time in the literature on the topic, considers and compares two samples of investors, private and retail, examined in two different years, 2015 and 2009. Based on the answers obtained from specifically devised questionnaires, the paper is organised in three steps of analysis to: 1) test the differences in gain and loss perception; 2) check the level of satisfaction/dissatisfaction in situations of gain and loss; 3) test the tendency to preserve the status quo. The results obtained demonstrate that private and retail investors perceive gains and losses differently, even if a convergence over the years between the two samples examined is observed. Maintaining the status quo is the main goal for private investors.
KW - decision making
KW - perception of gains
KW - perception of losses
KW - private investors
KW - retail investors
KW - decision making
KW - perception of gains
KW - perception of losses
KW - private investors
KW - retail investors
UR - http://hdl.handle.net/10807/102925
UR - http://www.inderscience.com
U2 - 10.1504/IJADS.2017.10004572
DO - 10.1504/IJADS.2017.10004572
M3 - Article
SP - 193
EP - 212
JO - International Journal of Applied Decision Sciences
JF - International Journal of Applied Decision Sciences
SN - 1755-8077
ER -