Bernardini, Chiara (A.A. 2024/2025) Investor behaviour and biases in illiquid and subjective market: the case of passion-led investments. Tesi di Laurea in Managerial decision making, Luiss Guido Carli, relatore Luigi Marengo, pp. 76. [Master's Degree Thesis]

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Abstract/Index

Behavioural finance. A kaleidoscope of ideas. Rational individuals vs irrational humans. Brief history of behavioural finance. Alternative investments. It’s alternative what is not traditional. Newest investment trends in times of uncertainty. Wealth management. Passion-led, irrationality and illiquid, subjective markets. The art market–desires for sale. Other passions for sale–luxury and collectibles. Players of the market, collectors and UHNWI. Pure financial instruments vs wealth management strategies. Cognitive biases specific to passion goods. Endowment effect and overvaluation in art auctions. Anchoring in price setting and negotiation. Availability heuristics and media influence on market trends. Loss aversion and the masterpiece effect. Disposition effect and mental accounting. Sunk cost fallacy in collectibles and heritage assets. Status quo bias and resistance to portfolio diversification. Social proof and FOMO from contemporary art to Birkins and NFTs. Herd mentality vs. expert curation in investment decision-making. Herding in passion-led markets–a perfect storm. Curating the crowd. Correcting the irrational. What’s next?

References

Bibliografia: pp. 59-73.

Thesis Type:	Master's Degree Thesis
Institution:	Luiss Guido Carli
Degree Program:	Master's Degree Programs > Master's Degree Program in Management, English language (LM-77)
Chair:	Managerial decision making
Thesis Supervisor:	Marengo, Luigi
Thesis Co-Supervisor:	Core, Fabrizio
Academic Year:	2024/2025
Session:	Summer
Deposited by:	Alessandro Perfetti
Date Deposited:	16 Sep 2025 09:40
Last Modified:	16 Sep 2025 09:40
URI:	https://tesi.luiss.it/id/eprint/43181

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