Empirical Analysis Of China's Stock Market Investor Cognitive Biases

Under current market environment, it is a great sense of making research on behavior of securities investors. The reason is that that is important premise for realizing the investor rights and interests protection.This essay deals with several series of Chinese financial data,which is obtains through the questionnaire survey . Evidence shows that the Chinese stock market exist four kind of congnitive biases: heuristic simplification, self deception, emotions and self—control and social in-teractions. In addition, Chinese stock market also includes our country characteristic congnitive biases,such as policy dependence, cognition precision flaw etc. They affects investor behavior, causing the tendency of over-response.and intensifing the vibration of stock market.So we must pay much attention on it and eliminate congnitive biases intentionally.For most of investors, they can't make the right market anticipation according to principle of getting most benefit.then they will be exploit by organization investors. In this paper,we make the multianalysis about that behavior of those kind of investors. All the...