Journal of Yaşar University
Yazarlar: Orhan Emre ELMA, Mahmut BAYDAŞ
Konular:Sosyal
DOI:10.19168/jyasar.679380
Anahtar Kelimeler:Behavioral Finance,Mind-Wandering,Risk Tolerance,Investment Decisions
Özet: Mind-wandering is a state of mind which impairs concentration via vision and thought raids about past or future also pulls apart people from what they are doing, as a result creates an erosion of task performance. The divergence from presence decreases conscious awareness and in most cases people feel themselves less happy. Recent studies about mind-wandering mostly focused on reading quality, driving performance, working memory abilities and also on mood shifts. Results are mostly negative which are; decreasing of reading speed, poor driving experiences along with badly crashes, disrupted performance of working memory, and feeling less happy. 250,000 people from more than 80 countries were analyzed with the help of a smart phone application, which is just made to execute the Killingsworth and Gilbert’s research. The results approved what has already been found: people who have mind-wandering frequently are unhappy or prone to unhappiness. Aside from these negative sides, there are some researches that delivers there is a good side of this phenomenon too. A number of scientists found that mind-wandering can increase critical thinking and improve creative problem solving abilities. In fact, these studies mention that most artists become successful mostly with the help of their wandering minds. Another area which demands focus, and requies critical thinking is financial decisions. People tend to think about their past experiences and try to be able to build a colorful future. In this study the prediction role of mind wandering on money management and risk tolerance is investigated on finance students, which are accepted as future investors. The results show that wandering mind both effects risk tolerance and money management of participants negatively β=-.55, p< .001; β=-.15, p<.05 respectively. Also mind wandering explained 31% of the variance of risk tolerance and 2% of the variance of money management.