A study on the impact of investment experience, gender, and level of education on overconfidence and self-attribution bias

摘要

This paper studies the impact of investment experience, gender, and the level of education on two specific biases, overconfidence and self-attribution bias. It also studies the relationship between the two biases. To achieve the said objectives, the following main hypotheses are tested. (1) H1: Overconfidence and self-attribution changes with investor experience. (2) H2: Overconfidence and self-attribution changes with the level of education. (3) H3: Overconfidence and self-attribution depends on gender. (4) H4: There is a relationship between self-attribution bias and overconfidence bias.