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Name-Based Behavioral Biases: Are Expert Investors Immune?

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  • Jennifer Itzkowitz
  • Jesse Itzkowitz

Abstract

The market comprises investors with a broad range of expertise. As a result, investors may make decisions differently from one another. Research reveals that investors use name-based heuristics, or short-cuts, including alphabetical ordering (Itzkowitz, Itzkowitz, and Rothbort [2015]), name fluency (Anderson and Larkin [2012], Green and Jame [2013]), and name memorability (Grullon, Kanatas, and Weston [2004]) when trading stocks, resulting in irrational decisions. Because experts and novices process information differently, name-based biases may not affect all investors equally. The authors test and confirm the hypothesis that, compared to novices, expert investors are relatively immune to name-based biases.

Suggested Citation

  • Jennifer Itzkowitz & Jesse Itzkowitz, 2017. "Name-Based Behavioral Biases: Are Expert Investors Immune?," Journal of Behavioral Finance, Taylor & Francis Journals, vol. 18(2), pages 180-188, April.
    • Handle: RePEc:taf:hbhfxx:v:18:y:2017:i:2:p:180-188
    DOI: 10.1080/15427560.2017.1308940
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    Cited by:

    1. Arne Feddersen & Brad R. Humphreys & Brian P. Soebbing, 2020. "Casual bettors and sentiment bias in NBA and NFL betting," Applied Economics, Taylor & Francis Journals, vol. 52(53), pages 5797-5806, November.
    2. Bendell, Bari L. & Kristal, Emma K., 2023. "Five naming strategies to help tell your organization’s story," Business Horizons, Elsevier, vol. 66(3), pages 387-404.
    3. Kalugala Vidanalage Aruna Shantha, 2019. "Individual Investors’ Learning Behavior and Its Impact on Their Herd Bias: An Integrated Analysis in the Context of Stock Trading," Sustainability, MDPI, vol. 11(5), pages 1-24, March.
    4. Hu, Cui & Li, Ben G., 2021. "Chinese lexicography and stock trading," International Review of Economics & Finance, Elsevier, vol. 73(C), pages 44-59.

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