How Much Does Expertise Reduce Behavioral Biases? The Case of Anchoring Effects in Stock Return Estimates

By Markku Kaustia, E. Alho, V. Puttonen. 2008

203 citations recorded by the source corpus.

Subfields: Accounting, Finance, Safety Research

View Paper: https://www.semanticscholar.org/paper/c50cac7fece06d31b243e35465655cced96aefa5

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Accounting

1. A. McKelvie
2. J. Haynie
3. Oscar Stolper
4. A. Walter
5. V. Gustavsson
6. Matthew S. Wood
7. David W. Williams
8. Yi Jiang

In Finance

1. A. McKelvie
2. Oscar Stolper
3. J. Haynie
4. A. Walter

In Safety Research

1. Oscar Stolper
2. J. Haynie
3. A. Walter
4. V. Gustavsson
5. A. McKelvie

Citations in the corpus

• Financial literacy, financial advice, and financial behavior (2017, methodology): “However, the literature on behavioral biases has documented less severe but still significant investment mistakes conducted by, for instance, money managers (e.g., Kaustia et al. 2008).”
• Are Retail Traders Compensated for Providing Liquidity (2016, unknown): “…in finance are List (2003), Mahani and Bernhardt (2007), Agarwal, Driscoll, Gabaix, and Laibson (2008), Choi, Laibson, Madrian, and Metrick (2009), Kaustia, Alho, and Puttonen (2008), Greenwood and Nagel (2009), Nicolosi, Peng, and Zhu (2009), Seru, Shumway, and Stoffman (2009), Chiang,…”
• Unpacking the uncertainty construct: Implications for entrepreneurial action (2011, background): “Further, expertise serves to reduce behavioral bias in the face of decision-making uncertainty, making experts less “aware” of the potential impact uncertainty will have on a given decision (Kaustia et al., 2008).”