Behavioral Finance Model on Investor Decision Making in Cryptocurrency Airdrops

Abstract

Investing in cryptocurrencies is one of the instruments that is increasingly in demand by individual investors today. Investors are starting to aim for other advantages of investing in cryptocurrencies besides capital gains, which is the benefits of getting airdrops. Through this research, we want to examine what factors influence investors' intention to invest through the cryptocurrency airdrops program. We take these factors from the behavioral finance approach. We use heuristic behavior, prospect theory and role of personality variables. Our research is a causal quantitative research. We collected primary data from a questionnaire distributed to experienced individual investors participating in one of the cryptocurrency airdrops programs. We use hypothesis testing with ordinary least square analysis. The research result is that heuristic behavior, prospect theory, and role of personality each has significant influence on investor decision making in cryptocurrency airdrops.

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