Heurísticas e vieses em finanças: um estudo sobre aversão à perda e confiança excessiva entre discentes da UFRN

Abstract

This study analyzed the behavioral biases of loss aversion and overconfidence effect among university students from the Centro de Ciências Sociais Aplicadas - CCSA at Universidade Federal do Rio Grande do Norte - UFRN, examining how these biases relate to demographic variables as well and the frequency of online betting. Using a quantitative, descriptive approach and survey methodology, 238 valid responses were collected through a structured questionnaire. Statistical analysis was conducted with the aid of ANOVA, Student’s t-test, and Tukey’s Post-Hoc test, applied via Python and Excel. The results indicated a moderate level of loss aversion and a medium tendency toward overconfidence. Gender significantly influenced the overconfidence effect, being more prominent in male participants, while age impacted loss aversion, which was higher among individuals over 40 years old. On the other hand, academic major and betting frequency did not show statistically significant differences in the biases analyzed. It is concluded that the biases studied influence individuals' financial perception and judgment, reinforcing the importance of financial education and awareness regarding irrational decision-making involving monetary behavior, especially in light of the growing popularity of online betting. This study recommends methodological refinements and an expanded sample for future research.