Creencias que fundamentan heurísticas y sesgos en la toma de decisiones financieras
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Publicado
31-05-2023
Claudine Moya-Ponce
Pilar Madrazo-Lemaroy
https://orcid.org/0000-0003-1847-4063
Pilar Madrazo-Lemaroy
Resumen
La heurística y los sesgos son resultado del pensamiento intuitivo que, a partir de intuiciones, sentimientos e impresiones, surgen como creencias una vez que son procesados a través del pensamiento analítico. En el presente trabajo examinamos las creencias que fundamentan heurísticas y sesgos en la toma de decisiones financieras, a través de 31 entrevistas a jóvenes mexicanos de clase socio-económica alta. Encontramos que la desconfianza es la causa común de decisiones como: invertir en otro país, evitar el comportamiento de manada y solo escuchar a asesores profesionales de su contexto social. Prefieren las inversiones sustentables, no por congruencia con sus valores, sino por la creencia de que son menos riesgosas. Ahorran o invierten su dinero independientemente de su fuente. Dado que consideran que pedir prestado es vergonzoso, etiquetan a los prestamistas como inversionistas. Finalmente, presentamos opciones para futuras investigaciones, así como implicaciones para intervenciones educativas y proveedores de servicios financieros.
Cómo citar
Moya-Ponce, C., & Madrazo-Lemaroy, P. (2023). Creencias que fundamentan heurísticas y sesgos en la toma de decisiones financieras. Cuadernos De Gestión, 23(2), 69–80. https://doi.org/10.5295/cdg.221703pm
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Keywords
Heurísticas, Comportamiento de manada, Sesgo extranjero, Inversión sostenible, Asesores profesionales, México
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Blasco, N., Corredor, P., & Ferreruela, S. (2017). Can agents sensitive to cultural, organizational, and environmental issues avoid herding? Finance Research Letters, 22, 114-121. https://doi.org/10.1016/j.frl.2017.01.006
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Bouri, E., Gupta, R., & Roubaud, D. (2019). Herding behaviour in cryptocurrencies. Finance Research Letters, 29, 216-221. https://doi.org/10.1016/j.frl.2018.07.008
Chan, J., & Kim, M. C. (2020). ESG Performance in Exchange Traded Funds (ETFs) and Fixed Income in the Context of Home Bias. Lund University.
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Cooper, I. A., Sercu, P., & Vanpée, R. (2018). A measure of pure home bias. Review of Finance, 22(4), 1469-1514. https://doi.org/10.1093/rof/rfx005
Corbet, S., Lucey, B., & Yarovaya, L. (2018). Datestamping the Bitcoin and Ethereum bubbles. Finance Research Let-ters, 26, 81-88. https://doi.org/10.1016/j.frl.2017.12.006
Coronel-Pangol, K., Orden-Cruz, C., & Paule-Vianez, J. (2022). Bibliometric analysis of alternative financing for entre-preneurship. Cuadernos de Gestión, 22(2), 167-182. https://doi.org/10.5295/cdg.211559kc
Datta, S., & Mullainathan, S. (2014). Behavioral design: a new approach to development policy. Review of Income and Wealth, 60(1), 7-35. https://doi.org/10.1111/roiw.12093
Dodd, O., & Frijns, B. (2015). Cross-listing decisions and the foreign bias of investors. Finance Research Letters, 15, 160-166. https://doi.org/10.1016/j.frl.2015.09.006
Drever, A. I., Odders‐White, E., Kalish, C. W., Else‐Quest, N. M., Hoagland, E. M., & Nelms, E. N. (2015). Foundations of financial well‐being: Insights into the role of executive function, financial socialization, and experience‐based learning in childhood and youth. Journal of Consumer Affairs, 49(1), 13-38. https://doi.org/10.1111/joca.12068
Fernandes, D., Lynch Jr, J. G., & Netemeyer, R. G. (2014). Financial literacy, financial education, and downstream financial behaviors. Management Science, 60(8), 1861-1883. https://doi.org/10.1287/mnsc.2013.1849
Foerster, S., Linnainmaa, J. T., Melzer, B. T., & Previtero, A. (2017). Retail financial advice: does one size fit all? The Journal of Finance, 72(4), 1441-1482. https://doi.org/10.1111/jofi.12514
Furnham, A. (1999). The saving and spending habits of young people. Journal of economic Psychology, 20(6), 677-697. https://doi.org/10.1016/S0167-4870(99)00030-6
Garcia, M. J. R. (2013). Financial education and behavioral finance: new insights into the role of information in financial decisions. Journal of economic surveys, 27(2), 297-315. https://doi.org/10.1111/j.1467-6419.2011.00705.x
Gennaioli, N., Shleifer, A., & Vishny, R. (2012). Neglected risks, financial innovation, and financial fragility. Journal of Financial Economics, 104(3), 452-468. https://doi.org/10.1016/j.jfineco.2011.05.005
Geranio, M., & Lazzari, V. (2019). Stress testing the equity home bias: A turnover analysis of Eurozone markets. Journal of International Money and Finance, 97, 70-85. https://doi.org/10.1016/j.jimonfin.2019.06.002
Gevlin, K. (2007). The coming of age of socially responsible investing. Financial Planning, 37(8), 56.
Gigerenzer, G., & Todd, P. M. (1999). Fast and frugal heuristics: The adaptive toolbox. In Simple heuristics that make us smart (pp. 3-34). Oxford University Press.
Hanson, T. A., & Kalthoff, J. (2019). Financial literacy, naïve diversification, and security selection. Journal of Applied Financial Research, 1, 69-86.
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