A new measurement method of investor overconfidence

R. Huisman; N.L. van der Sar; R.C.J. Zwinkels

doi:10.1016/j.econlet.2011.09.022

A new measurement method of investor overconfidence

R. Huisman, N.L. van der Sar, R.C.J. Zwinkels

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Abstract

We present an alternative measurement method of investor overconfidence, using unique survey data on stock market predictions of investors. We apply the Parkinson estimate based on extreme bounds around the stock forecast to deduce investor confidence. The results support overconfidence.

Original language	English
Pages (from-to)	69-71
Journal	Economics Letters
Volume	114
Issue number	1
DOIs	https://doi.org/10.1016/j.econlet.2011.09.022
Publication status	Published - 2012
Externally published	Yes

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10.1016/j.econlet.2011.09.022

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title = "A new measurement method of investor overconfidence",

abstract = "We present an alternative measurement method of investor overconfidence, using unique survey data on stock market predictions of investors. We apply the Parkinson estimate based on extreme bounds around the stock forecast to deduce investor confidence. The results support overconfidence.",

author = "R. Huisman and \{van der Sar\}, N.L. and R.C.J. Zwinkels",

year = "2012",

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language = "English",

volume = "114",

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journal = "Economics Letters",

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AU - Huisman, R.

AU - van der Sar, N.L.

AU - Zwinkels, R.C.J.

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N2 - We present an alternative measurement method of investor overconfidence, using unique survey data on stock market predictions of investors. We apply the Parkinson estimate based on extreme bounds around the stock forecast to deduce investor confidence. The results support overconfidence.

AB - We present an alternative measurement method of investor overconfidence, using unique survey data on stock market predictions of investors. We apply the Parkinson estimate based on extreme bounds around the stock forecast to deduce investor confidence. The results support overconfidence.

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U2 - 10.1016/j.econlet.2011.09.022

DO - 10.1016/j.econlet.2011.09.022

M3 - Article

SN - 0165-1765

VL - 114

SP - 69

EP - 71

JO - Economics Letters

JF - Economics Letters

IS - 1

ER -

A new measurement method of investor overconfidence

Abstract

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