Publication in refereed journal
香港中文大学研究人员 ( 现职)
| 王誉龙教授 (酒店及旅游管理学院) |
| 区玉辉教授 (管理学系) |
全文
| 数位物件识别号 (DOI) http://dx.doi.org/10.1016/S0749-5978(02)00510-1 |
引用次数
Web of Sciencehttp://aims.cuhk.edu.hk/converis/portal/Publication/36WOS source URL
其它资讯
摘要This paper examines the effects of mood on the behavior of traders or decision makers in financial markets. Based on a review of the psychological theories and empirical findings which relate mood to decision making and information processing, we derive hypotheses with respect to the impact of good, neutral, and bad moods on the behavior of traders. Two experiments (N = 66 and 72) were conducted on an Internet platform which simulated foreign exchange trading based on historical market data. The first experiment manipulated mood using feedback and music whereas the second one asked subjects to read mood-laden statements. It was found that traders in a good mood had an inferior trading performance (losing money) compared to those in a neutral or bad mood (making profit). This is because traders in a good mood made less accurate decisions than those in neutral or bad moods. Those in a bad mood were the most accurate in their decisions but behaved conservatively in their trading. Subjects in a good mood tended to make less accurate decisions though they spent on average at least the same time as the other subjects on information processing and decision-making. They also were over-confident taking unwarranted risks. The studies concluded with insights concerning the effects of mood on choice of trading strategies. (C) 2002 Elsevier Science (USA). All rights reserved.
着者Au K, Chan F, Wang D, Vertinsky I
期刊名称Organizational Behavior and Human Decision Processes
详细描述To ORKTS: www.sciencedirect.com
出版年份2003
月份7
日期1
卷号91
期次2
出版社ACADEMIC PRESS INC ELSEVIER SCIENCE
页次322 - 338
国际标準期刊号0749-5978
电子国际标準期刊号1095-9920
语言英式英语
Web of Science 学科类别Business & Economics; Management; MANAGEMENT; Psychology; Psychology, Applied; PSYCHOLOGY, APPLIED; Psychology, Social; PSYCHOLOGY, SOCIAL
