2012³â ¼ö´É ¿Ü±¹¾î ¿µ¿ª 26¹ø Çؼ³ - ¼Û°î´åÄÄ(songgok.com)
26. ´ÙÀ½ ºóÄ¿¡ µé¾î°¥ ¸»·Î °¡Àå ÀûÀýÇÑ °ÍÀ» °í¸£½Ã¿À
Interestingly, people are more overconfident when they feel like they have control of the outcome ¡ª even when this is clearly not the case. For example, it is documented that if people are asked to bet on whether a coin toss is heads or tails, most bet larger amounts if the coin is yet to be tossed. If the coin is tossed and the outcome is concealed, people will offer lower amounts when asked for bets. People act as if _____________________________. In this case, control of the outcome is clearly an illusion. This perception occurs in investing, as well. Even without information, people believe the stocks they own will perform better than stocks they do not own. However, ownership of a stock only gives the illusion of having control of the performance of the stock. [3Á¡]
¨ç the amount of the bet will influence the outcome
¨è their involvement will somehow affect the outcome of the toss
¨é there is a parallel between a coin toss and stock investments
¨ê their illusion will not disappear even after the coin is tossed
¨ë they can predict the outcome with credible information
1. ³»¿ëÇؼ³
»ç¶÷µéÀº µ¿Àü´øÁö±â¿¡¼ µ¿ÀüÀÌ ´øÁ®Áö±â Àü¿¡´Â ´õ ¸¹Àº ¾×¼öÀÇ ³»±â¸¦ °ÉÁö¸¸ ÀÏ´Ü µ¿ÀüÀÌ ´øÁ®Áø ÈÄ ±× °á°ú°¡ °¨ÃçÁø »óÅ¿¡¼ ³»±â¸¦ °É ¶§´Â ´õ ÀûÀº ¾×¼öÀÇ µ·À» °Ç´Ù. ÀÌ·¯ÇÑ ÇൿÀº ÀڽŵéÀÌ (µ¿ÀüÀÌ ´øÁ®Áö±â Àü¿¡) ¸¹Àº µ·À» °É¸é ¸¶Ä¡ µ¿Àü ´øÁö±âÀÇ °á°ú°¡ ÀڱⰡ ¿øÇÏ´Â ÂÊÀ¸·Î ³ª¿Ã ¼ö ÀÖÀ» °Íó·³ ÇൿÇÏ°í ÀÖ´Ù´Â ¼³¸íÀÌ´Ù. ±×·¯¹Ç·Î ºóÄ¿¡´Â ¨è ¡®ÀڽŵéÀÇ Âü¿©°¡ µ¿Àü ´øÁö±â °á°ú¿¡ ¾î¶»°Ôµç ¿µÇâÀ» ¹ÌÄ¥ °Í󷳡¯ÀÌ °¡Àå ÀûÀýÇÏ´Ù.
2. ±¸¹®Çؼ³
[ it is documented that if people are asked to bet on whether a coin toss is heads or tails, most bet larger amounts if the coin is yet to be tossed]
* it is documented that~: thatÀÌÇÏ°¡ ±â·ÏµÇ¾î ÀÖ´Ù. * are asked bet: ³»±â¸¦ Ç϶ó°í ¿äû ¹Þ´Ù * on = about * most(ÁÖ¾î) bet(µ¿»ç) larger amounts(¸ñÀû¾î) * the coin is yet to be tossed: (Á÷¿ª) ´øÁ®Áú µ¿ÀüÀÌ ¾ÆÁ÷ ÀÖ´Ù¸é/(ÀÇ¿ª) µ¿ÀüÀÌ ¾ÆÁ÷ ´øÁ®ÁöÁö ¾Ê¾ÒÀ» ¶§
3. ±¸¹®Çؼ³
[people believe (that:Á¢¼Ó»ç) / the stocks (that:°ü°è´ë¸í»ç) / they own / will perform better than stocks (that:°ü°è´ë¸í»ç)/ they do not own]
4. ´Ü¾îÁ¤¸®
* overconfident:(Áö³ªÄ¡°Ô) ÀڽŸ¸¸¸ÇÑ cf)confident: ÀÚ½ÅÀÖ´Â, È®½ÅÇÏ´Â *have control of:~À» ÅëÁ¦ÇÏ´Ù *outcome: °á°ú, ¼º°ú *the case: Áø»ó, ½ÇÁ¤ *document:±â·ÏÇÏ´Ù, º¸µµÇÏ´Ù, ¹®¼, ±â·Ï *bet :³»±â, ³»±âÇÏ´Ù *coin toss:µ¿Àü ´øÁö±â *heads:µ¿ÀüÀÇ ¾Õ¸é *tails:µ¿ÀüÀÇ µÞ¸é *conceal: °¨Ãß´Ù, ¼û±â´Ù *illusion:ȯ°¢, Âø°¢ *perception:ÀνÄ, Áö°¢ *stock:ÁÖ½Ä *ownership:¼ÒÀ¯±Ç, º¸À¯ *performance:¼º°ú *involvement:°ü·Ã, ¿¬·ç, Âü¿© *affect:¿µÇâÀ» ³¢Ä¡´Ù *parallel:ÆòÇàÀÇ, ÆòÇ༱
5. Àü¹®Çؼ®
Èï¹Ì·Ó°Ôµµ, »ç¶÷µéÀº ÀڽŵéÀÌ °á°ú¿¡ ´ëÇÑ ÅëÁ¦·ÂÀ» Áö´Ï°í ÀÖ´Ù(they have control of the outcome)°í ´À³¥ ¶§ ´õ ÀڽŸ¸¸¸Çѵ¥(more overconfident), ÀÌ´Â Áø»óÀÌ ¸í¹éÈ÷ ±×·¸Áö ¾ÊÀ» ¶§Á¶Â÷µµ(even when this is clearly not the case)(ÅëÁ¦·ÂÀ» ÀüÇô °¡Áö°í ÀÖÁö ¾ÊÀº °ÍÀÌ ¸í¹éÇÒ ¶§Á¶Â÷µµ) ±×·¯ÇÏ´Ù. ¿¹¸¦ µé¸é, µ¿Àü´øÁö±â¿¡¼ ¾Õ¸éÀÌ ³ª¿Ã °ÍÀÎÁö µÞ¸éÀÌ ³ª¿Ã °ÍÀÎÁö¿¡(whether a coin toss is heads or tails) ´ëÇØ(on) ³»±â¸¦ °Éµµ·Ï ¿äûÀ» ¹ÞÀ¸¸é(are asked to bet) ´ëºÎºÐÀÇ »ç¶÷µéÀÌ(most) µ¿ÀüÀÌ ¾ÆÁ÷ ´øÁ®ÁöÁö ¾Ê¾ÒÀ» ¶§(if the coin is yet to be tossed) ´õ ¸¹Àº ±Ý¾×À» °Å´Â( bet larger amounts) °ÍÀ¸·Î ±â·ÏµÇ¾î ÀÖ´Ù(it is documented that ). µ¿ÀüÀÌ ´øÁ®Á³°í ±× °á°ú°¡ °¨ÃçÁø °æ¿ì¿¡´Â(f the coin is tossed and the outcome is concealed) ³»±â¸¦ °É¶ó´Â ¿äûÀ» ¹Þ¾ÒÀ» ¶§(when asked for bets) »ç¶÷µéÀº ´õ ÀûÀº ±Ý¾×À» °É·Á ÇÑ´Ù(people will offer lower amounts). »ç¶÷µéÀº ¸¶Ä¡ ÀڽŵéÀÇ Âü¿©°¡ µ¿Àü ´øÁö±â °á°ú¿¡ ¾î¶»°Ôµç ¿µÇâÀ» ¹ÌÄ¥ °Íó·³ ÇൿÇÑ´Ù. ÀÌ °æ¿ì(In this case) °á°ú¿¡ ´ëÇÑ ÅëÁ¦·ÂÀº(control of the outcome) ¸í¹éÇÑ Âø°¢ÀÌ´Ù. ÀÌ·± ÀνÄÀº(This perception) ÅõÀÚ¿¡¼µµ ¶ÇÇÑ(as well) ³ªÅ¸³´Ù. ½ÉÁö¾î ¾Æ¹«·± Á¤º¸ ¾øÀ̵µ(Even without information) »ç¶÷µéÀº ÀڽŵéÀÌ ¼ÒÀ¯ÇÑ ÁÖ½ÄÀÌ(the stocks (that) they own) ÀڽŵéÀÌ ¼ÒÀ¯ÇÏÁö ¾ÊÀº Áֽĵé(stocks (that) they do not own)º¸´Ù ´õ ÁÁÀº ¼º°ú¸¦ ¿Ã¸®°Ô(will perform better) µÉ °ÍÀ̶ó°í ¹Ï´Â´Ù. ±×·¯³ª ÁÖ½ÄÀÇ º¸À¯(ownership of a stock)´Â ±× ÁÖ½ÄÀÇ ¼º°ú¿¡ ´ëÇÑ ÅëÁ¦·Â(control of the performance of the stock)À» Áö´Ï°í ÀÖ´Ù´Â Âø°¢À» Á¦°øÇÒ »ÓÀÌ´Ù.
¼Û°î´åÄÄ(songgok.com) - ¼Õ¹ü½Ä