Left: Ms Dora LI, General Manager of the Investor and Financial Education Council; Right: Prof. Eric CHUI, Head of APSS and Co-Director of the Policy Research Centre for Innovation and Technology at PolyU
Commissioned by the IFEC, the Department of Applied Social Sciences (APSS) of The Hong Kong Polytechnic University conducted a groundbreaking Behavioural Science Study on Investor Behaviour in the Virtual Asset Markets: Heuristics in Virtual Assets Investment Decision-Making, with an aim to explore the behavioural factors that affect virtual asset investors’ investment decisions.
The result showed investors tend to use “heuristics” (mental shortcuts) to select easily available information for processing and tend to overestimate their investment acumen.
The Investor and Financial Education Council (IFEC)’s “Retail Investor Study 2023” also reveals that 23% of young respondents have invested in virtual assets and related products in the past year. The ratio is three times higher than the overall number of respondents and surpasses the 12% recorded in 2021.
Over 70% of the respondents cited the pursuit of short-term returns, considering it as an investment trend, and the fear of missing investment opportunities as the reasons for their investment in virtual assets.
Professor Eric CHUI, Head of the Department of APSS and Co-Director of PReCIT of PolyU, said that virtual assets tend to have higher risks compared to traditional investment products and urged investors to make rational investment decisions with caution.
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