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The Presence of Behavioral Biases Among Cryptocurrency Investors in Sweden with a Gender Perspective

Tholérus, Vendela LU (2025) NEKH02 20242
Department of Economics
Abstract
This study investigates the presence of behavioral biases among cryptocurrency investors in Sweden and examines whether differences exist between males and females. Specifically, the behavioral biases of herding effect, conservatism, prospect theory, availability bias, and overconfidence are analyzed. The study employs four regressions in the statistical software Stata, with the presence of each behavioral bias assessed using at least one independent variable. The regression results suggest that cryptocurrency investors in Sweden exhibit the behavioral biases of herding effect, conservatism, and availability bias. However, the findings do not support behavior consistent with prospect theory or the presence of overconfidence. Furthermore,... (More)
This study investigates the presence of behavioral biases among cryptocurrency investors in Sweden and examines whether differences exist between males and females. Specifically, the behavioral biases of herding effect, conservatism, prospect theory, availability bias, and overconfidence are analyzed. The study employs four regressions in the statistical software Stata, with the presence of each behavioral bias assessed using at least one independent variable. The regression results suggest that cryptocurrency investors in Sweden exhibit the behavioral biases of herding effect, conservatism, and availability bias. However, the findings do not support behavior consistent with prospect theory or the presence of overconfidence. Furthermore, the results indicate differences between males and females. Notably, the influence of the herding effect on males compared to females varies across different time periods. Additionally, the findings suggest that males exhibit the behavioral bias of conservatism to a greater extent than females, while females are more significantly affected by the availability bias than males. (Less)
Please use this url to cite or link to this publication:
author
Tholérus, Vendela LU
supervisor
organization
course
NEKH02 20242
year
type
M2 - Bachelor Degree
subject
keywords
Behavioral finance, Behavioral bias, Cryptocurrency investors, Bitcoin
language
English
id
9181922
date added to LUP
2025-05-16 10:47:57
date last changed
2025-05-16 10:47:57
@misc{9181922,
  abstract     = {{This study investigates the presence of behavioral biases among cryptocurrency investors in Sweden and examines whether differences exist between males and females. Specifically, the behavioral biases of herding effect, conservatism, prospect theory, availability bias, and overconfidence are analyzed. The study employs four regressions in the statistical software Stata, with the presence of each behavioral bias assessed using at least one independent variable. The regression results suggest that cryptocurrency investors in Sweden exhibit the behavioral biases of herding effect, conservatism, and availability bias. However, the findings do not support behavior consistent with prospect theory or the presence of overconfidence. Furthermore, the results indicate differences between males and females. Notably, the influence of the herding effect on males compared to females varies across different time periods. Additionally, the findings suggest that males exhibit the behavioral bias of conservatism to a greater extent than females, while females are more significantly affected by the availability bias than males.}},
  author       = {{Tholérus, Vendela}},
  language     = {{eng}},
  note         = {{Student Paper}},
  title        = {{The Presence of Behavioral Biases Among Cryptocurrency Investors in Sweden with a Gender Perspective}},
  year         = {{2025}},
}