Do investors act like ostriches?
Why do people prefer to put their money into closed, interest-bearing bank deposits, when they could invest it in liquid, higher-yielding government treasury bills (T-bills) at no greater risk?
It’s all because of what Hebrew University of Jerusalem researchers Prof. Dan Galai and Dr. Orly Sade call the “ostrich effect” – that is, investors “burying their heads in the sand” like ostriches so as to ignore what they perceive as a risky situation.
Galai, the Abe Gray Professor of Business Administration, and Sade, both of the Hebrew University’s Jerusalem School of Business Administration, examined the savings habits of Israelis as well as Americans in this regard. Their findings will be published in a forthcoming issue of the Journal of Business, one of the world’s leading finance journals.
Jerry Barach | alfa
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