The effect of behavioral biases on cryptocurrency trading and its consequences in thailand: a dual-systems perspective
Issued Date
2022
Issued Date (B.E.)
2565
Available Date
Copyright Date
Resource Type
Series
Edition
Language
eng
File Type
135 leaves
No. of Pages/File Size
application/pdf
ISBN
ISSN
eISSN
DOI
Other identifier(s)
b217589
Identifier(s)
Access Rights
Access Status
Rights
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
Rights Holder(s)
Physical Location
National Institute of Development Administration. Library and Information Center
Bibliographic Citation
Citation
Shinnawat Asawachaisopon (2022). The effect of behavioral biases on cryptocurrency trading and its consequences in thailand: a dual-systems perspective. Retrieved from: https://repository.nida.ac.th/handle/662723737/6966.
Title
The effect of behavioral biases on cryptocurrency trading and its consequences in thailand: a dual-systems perspective
Alternative Title(s)
Legal measures to conduct of business : a case study of conducting hotel businesses
Author(s)
Advisor(s)
Editor(s)
item.page.dc.contrubutor.advisor
Advisor's email
Contributor(s)
Contributor(s)
Abstract
This research investigates the effect of behavioral biases, including herding, overconfidence, and optimism bias on the cognitive processes of cryptocurrency traders, as well as the sequential implications of their choices. The contribution of financial literacy and mindfulness meditation on behavioral biases and undesirable consequences is also explored. Survey data were collected from 400 independent traders in Bangkok using non-probabilistic sampling. The theoretical model was evaluated using structural equation modeling.
The analysis from partial least squares regression revealed that the reflexive system (i.e., behavioral biases) has a positive relationship with the impulsive purchase of cryptocurrencies, which may escalate the negative consequences. Conversely, a reflective system (i.e., financial literacy and mindfulness meditation) is found to have an inverse relationship with behavioral biases, which may subsequently reduce the impulse trading, resulting in less undesirable outcomes. Specifically, understanding the world of financial products and the prognosis for the global economy are both improved by financial literacy. Practicing mindfulness meditation, on the other hand, enables traders to intentionally employ emotion and sentiment as supplementary data when working on the market. The trading conseqeuences are also affected by investors' age and trading experience.
This study is one of the few papers discussing irrational human behavior from the dual-systems perspective in Thailand. Furthermore, this study explores whether financial literacy and mindfulness meditation can reduce irrational behavior.
Table of contents
Description
Thesis (Ph.D. (Management))--National Institute of Development Administration, 2022