Brahmana, R. and Hooy, C.W. and Ahmad, Z. (2016) Debunking the monday irrationality through the external affection of investors. Gadjah Mada International Journal of Business, 18 (1). pp. 83-105. ISSN 14111128Full text not available from this repository.
This study aims to reveal the mechanism of the influences of the full moon and high temperatures on investors’ Monday irrationality. In contrast to other studies, this research was built under a retroductive approach by using a time series quasi experimental study. Investors were directly assessed for their irrationality by using an adapted psychometric test on 4 occasions. The results indicate that there were indeed effects of the full moon and high temperatures on investors’ irrationality. Because the full moon and high temperatures frequently occurred on Mondays, it is most probably those two variables that were the drivers of the Monday irrationality. In the end, we concluded that the rational behaviour assumption can no longer be held. Instead of rationality, the investors were quasi rational. The utility function of Von Neumann-Morgenstern in decision making has to be replaced by the hedonic utility.
|Uncontrolled Keywords:||Experimental economics; High temperature; Monday irrationality; Moon phase; Psychological biases, unimas, university, universiti, Borneo, Malaysia, Sarawak, Kuching, Samarahan, ipta, education, research, Universiti Malaysia Sarawak|
|Subjects:||H Social Sciences > HB Economic Theory|
|Divisions:||Academic Faculties, Institutes and Centres > Faculty of Economics and Business|
|Depositing User:||Karen Kornalius|
|Date Deposited:||24 Jun 2016 00:48|
|Last Modified:||24 Jun 2016 00:48|
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