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I nvestment behavior is based on uncertainty about the future and is thus risky. News and rumors and speed and availability of information play important roles in investment markets. Risk propensity, risk preference, and attitude are the major concepts and explanations of investment behavior. Investors employ biases and heuristics in their decisions to invest or not, and how much to invest. Herding is another factor: people tend to imitate and follow other investors, probably due to lack of relevant and reliable information and lack of courage to behave differently. This chapter can be read in combination with chapters 11 (individual differences and segmentation), 12 (confidence and trust), 13 (loss aversion), 14 (risk preference), and 15 (time preference). These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.
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