2016年5月18日星期三，来自印第安纳大学的Jun Yang博士在汇丰商学院大楼337教室带来的题为“Are Investors More Likely to Make Mistakes under Fast-Thinking? Evidence from Peer-to-Peer Lending的研究讨会。


 
       Jun Yang从华盛顿大学-圣路易斯并获得金融学博士学位。她也从香港中文大學并获得运营管理博士学位。她在很多国际期刊上发表了研究成果，例如：Journal of Financial Economics, Management Science, Journal of Economic Theory, Review of Financial。


 
Abstract:
Investment opportunities on internet-based P2P lending appear and disappear in a few minutes. It provides a natural testing ground for the hypothesis that people are liable to make mistakes under fast-thinking (Kahneman 2011). Using one of the leading P2P lending platforms in China, Renrendai.com, we show that under fast-thinking investors tend to overweigh high interest rates, instead of incorporating comprehensive information such as the default risk. The overweight of interest rates results in higher default rates and poorer returns than expected. In sum, we conclude investors are more likely to make mistakes under fast-thinking.