Rethinking Behavioral Biases: Cognitive vs Contextual Heuristics Through Mediating Role of Risk Perception in China’s Stock Market
2026-10-23
This study examines whether cognitive heuristics (overconfidence and anchoring) and contextual heuristics (herding and availability) influence individual investors’ decision-making in China’s stock market through risk perception. Using survey data from 398 individual investors and structural equation modelling, the results show that risk perception partially mediates the effects of cognitive heuristicsContinue Reading