M行为金融学试卷A答案.docVIP

PAGE PAGE 1 北京师范大学珠海分校 2011—2012学年度第二学期期末考试（A卷答案） 开课单位： 国际商学部 课程名称： 行为金融学 任课教师： 郑勇 考试类型： 闭卷 考试时间： 90 分钟 一．Differentiate the following terms/concepts: (40) 1. Miscalibration and excessive optimism A person who suffers from miscalibration overestimates the precision of his knowledge, whereas one who suffers from excessive optimism thinks good things (e.g., succeeding in a business venture) are more likely to happen than objectively should be thought. 2. IQ and EQ The intelligence quotient (IQ) measures a person’s intelligence, whereas the emotional quotient (EQ) measures a person’s ability to identify and manage emotional responses. 3. Good company and good stock A good company has positive attributes such as a strong management team. A good stock is one you expect to outperform in the future. If markets are efficient there are no good or bad stocks. 4. Sensation seeking and overconfidence Overconfidence in its various manifestations has been extensively discussed in the chapter. Sensation-seeking on the other hand is a personality trait whose four dimensions are thrill and adventure seeking (i.e., a desire to engage in thrilling and even dangerous activities); experience seeking (i.e., the desire to have new and exciting experiences, even if illegal); disinhibition (i.e., behaviors associated with a loss of social inhibitions); and boredom susceptibility (i.e., dislike of repetition of experience). 5. House money and break-even effects The house money effect is the willingness to take greater risk with money that was recently won, whereas the break-even effect refers to an increase in risk taking after a prior loss in order to try to break even. 二. Answer the following questions: 1. Why are two people who witnessed the same event last month likely to describe it differently today? Memory is very imprecise. The common view that past experiences have somehow been written to the brain’s hard-drive and are then retrieved