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little_back · 2021年07月09日

请问老师,“In addition”后面的是不是描述的self control bias?

NO.PZ2018091702000037

问题如下:

Jung concludes that Corbett’s dominant behavioral biases are loss aversion bias and overconfidence bias. In addition, he determines she has a low probability of outliving her assets due to her significant wealth and modest lifestyle.

Recommend, assuming Jung’s bias conclusion is correct, whether he should moderate or adapt to Corbett’s behavioral biases.

选项:

A.

Adapt

B.

Moderate

C.

Neither

解释:

A is correct.

He should adapt to Corbett’s behavioral biases

Reason 1: Corbett’s dominant behavioral biases are emotional which are more difficult to moderate, correct, or educate. Thus, it would be more appropriate to adapt her portfolio to her biases.

Reason 2. Corbett has a high level of wealth relative to her level of spending (low standard of living risk). Adapting her portfolio to her biases would not materially increase the likelihood of outliving her assets. A deviation from the optimal or ideal portfolio can be allowed because greater downside risk or lower returns can be tolerated.

In addition, he determines she has a low probability of outliving her assets due to her significant wealth and modest lifestyle.这句话描述的是self control bias吗?

1 个答案
已采纳答案

王琛_品职助教 · 2021年07月10日

嗨,从没放弃的小努力你好:


不是哈

这道题考查的知识点是 Implications For Asset Allocation Decisions,对应基础班讲义 P113-P114

这个类型的问题通常是给一个客户的条件,问是应该 moderate 还是 adapt,取决于两个要素

一个是 Bias 的类型,即题干第一句话 "Jung concludes that Corbett’s dominant behavioral biases are loss aversion bias and overconfidence bias."

一个是财富水平,即题干第二句话,即同学问的这句话 "In addition, he determines she has a low probability of outliving her assets due to her significant wealth and modest lifestyle."

对于财富水平低、cognitive bias 偏多的投资者,基金经理应该多 educate;对于财富水平高,emotional bias 偏多的投资者,基金经理应该多 adapt

题目中 Corbett 同学 emotional bias 而且财富水平高,所以应该 adapt

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