Sesgos conductuales y racionalidad en decisiones financieras. Un análisis comparativo entre emprendimientos tradicionales y emprendimientos sociales del cantón Cuenca

Abstract

The present research has the objective to compare the presence of traditional and social entrepreneurs behavioral biases in Cuenca, with the goal to determinate if their financial decisions are rational or in contrast are influence of feelings and emotions, causing irrationality. In this sense, it has an interest growing themes approach: on one hand the entrepreneurship and the other hand the finance conduct. The methodological approach is quantitative. After to apply a survey of 154 between traditional and social entrepreneurs, seeks to determine the proportion of individuals in both populations that are possessors of the most common behavioral biases in the financial decisions, (anchoring, risk aversion, mental accounting, herd effect, overconfidence, sunk cost fallacy, the illusion of control, optimism and representativeness). With this, is determinate if their financial decisions are rational, considering that, to major presence of behavioral biases, there is a minor presence of rationality. To aboard the distinctions of two groups of entrepreneurs, is doing a “z” test of difference of proportions which allows to know if the nonsense presented is significant or not. According with the evidence, the behavioral biases are presented of different form in the takers of decisions that imply the money, not like that social entrepreneurs which are holders of higher percentages of irrationality with the presence of behavioral biases.