Research Article Open Access

A Study on Choices and the Profile of the Brazilian Investor in the Decision-Making Process

Abstract

The objective of this work was to show, through Prospect Theory (PT), a broader approach to finance and economics, which includes concepts of psychology and sociology, how agents, and particularly investors, are susceptible to deviations from rationality that directly impact their choices, making their decisions not always by the pillars that support classical theories of finance. The research was carried out with individuals, investors with great evolution of trading on the stock exchange (B3), and who have risk aversion scenarios in times of economic and political instability in Brazil. The data were analyzed with a statistical character to identify relationships between the variables and obtain essential data about the participants (through a questionnaire). Through the questionnaire, it is observed how much a behavioural effect greatly influences the choices of economic agents who are mostly men, well-prepared academically, with 78.40% completing higher education and/or some specialization and concentrated in the country’s Southeast region. Brazil with approximately 68.9% of the base.

Jose Carlos Silva Alves Cravo, Daiane Rodrigues dos Santos*, Campo Elias Suarez Villagran, Marcia Monteiro Matos

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