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Preliminary communication

Decision making styles of investors in capital market

Andrijana Mušura Gabor
Anita Knezović

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The question of investor rationality has been deeply challenged by the development of behavioural finance, which leads to a distortion of certain axioms underlying the classical economic science. This paper explores investors’ decision-making style in the capital market in Croatia and their tendency to framing. This is a search for individual differences in decision making process and research of deviations from rationality assumptions as well. The analysis of investors’ decision-making styles points to, in general, the dominance of rational decision making style - vigilance. Individual differences reveal that professional, more experienced investors and investors who trade in domestic as well as in foreign markets score higher on rational self-assessed decision making style.


decision making; framing; investors; behavioural finance

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