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Financial forecasting in the lab and the field: Qualified professionals vs. smart students
Journal article   Peer reviewed

Financial forecasting in the lab and the field: Qualified professionals vs. smart students

Te Bao, Brice Corgnet, Nobuyuki Hanaki, Katsuhiko Okada, Yohanes E. Riyanto and Jiahua Zhu
Journal of Behavioral and Experimental Finance
01/06/2025

Abstract

Financial forecasting financial professionals financial literacy cognitive skills
We compare the performance of financial professionals (CFAs) with university students in four financial forecasting tasks ranging from simple lab prediction tasks to longitudinal field prediction tasks. Although students and professionals performed similarly in the most artificial forecasting tasks, CFAs outperformed students in the field predictions. Differences in forecasting performance between finance professionals and students were explained by financial literacy, not cognitive ability.
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UN Sustainable Development Goals (SDGs)

Contributed to the advancement of the following goal(s):

#8 Decent Work and Economic Growth

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Collaboration types
Domestic collaboration
International collaboration
Citation topics
6 Social Sciences
6.10 Economics
6.10.80 Market Interdependencies
Web of Science research areas
Business, Finance
Economics
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