{"id":1198,"date":"2019-08-14T16:37:00","date_gmt":"2019-08-14T08:37:00","guid":{"rendered":"https:\/\/blog.roboadvisor.com.tw\/?p=1198"},"modified":"2019-08-14T16:37:00","modified_gmt":"2019-08-14T08:37:00","slug":"%e6%8a%95%e8%b3%87%e5%89%8d%e8%a6%81%e5%81%9a%e7%9a%84%e7%ac%ac%e4%b8%80%e4%bb%b6%e4%ba%8b-%e6%8e%a7%e5%88%b6%e8%87%aa%e5%b7%b1%e7%9a%84%e6%83%85%e7%b7%92","status":"publish","type":"post","link":"https:\/\/blog.roboadvisor.com.tw\/?p=1198","title":{"rendered":"\u6295\u8cc7\u524d\u8981\u505a\u7684\u7b2c\u4e00\u4ef6\u4e8b\u2013\u63a7\u5236\u81ea\u5df1\u7684\u60c5\u7dd2"},"content":{"rendered":"\n


\u5927\u90e8\u5206\u7684\u6295\u8cc7\u4eba\u6700\u5e38\u4f7f\u7528\u57fa\u672c\u9762\u5206\u6790\u3001\u6280\u8853\u9762\u5206\u6790\u7b49\u4f86\u505a\u6295\u8cc7\u5224\u65b7\uff0c\u4f46\u5176\u5be6\u6211\u5011\u90fd\u5ffd\u7565\u4e86\u4e00\u4ef6\u6703\u5c0d\u6295\u8cc7\u9020\u6210\u91cd\u5927\u5f71\u97ff\u7684\u4e8b\u60c5\uff0c\u90a3\u5c31\u662f\u6211\u5011\u81ea\u8eab\u7684\u60c5\u7dd2\u3002

\u4ec0\u9ebc\u662f\u884c\u70ba\u8ca1\u52d9\u5b78?<\/strong>
\u6295\u8cc7\u5f88\u7c21\u55ae\uff0c\u4f46\u6210\u529f\u4e0d\u7c21\u55ae\u3002\u7576\u6211\u5011\u5728\u5206\u6790\u7b56\u7565\u54ea\u88e1\u51fa\u932f\u6642\uff0c\u5f80\u5f80\u5ffd\u7565\u4e86\u6211\u5011\u7684\u60c5\u7dd2\u53ca\u5fc3\u7406\uff0c\u56e0\u6b64\u8a95\u751f\u4e86\u884c\u70ba\u8ca1\u52d9\u5b78\u3002

\u50b3\u7d71\u7684\u8ca1\u52d9\u7406\u8ad6\u5047\u8a2d\u6295\u8cc7\u4eba\u90fd\u662f\u7406\u6027\u7684\uff0c\u6240\u6709\u7684\u8ca1\u52d9\u5206\u6790\u4e5f\u90fd\u662f\u4ee5\u9019\u500b\u5047\u8a2d\u53bb\u505a\u6c7a\u7b56\uff0c\u4f46\u4e8b\u5be6\u8b49\u660e\uff0c\u4eba\u662f\u4e0d\u7406\u6027\u7684\u52d5\u7269\uff0c\u6240\u4ee5\u5e02\u5834\u624d\u6703\u51fa\u73fe\u6ce2\u52d5\uff0c\u6bcf\u500b\u4eba\u7d42\u5176\u4e00\u751f\u8ffd\u6c42\u7684\u5c31\u662f\u8ca1\u5bcc\u81ea\u7531\uff0c\u7576\u6211\u5011\u6709\u660e\u78ba\u7684\u76ee\u6a19\uff0c\u6211\u5011\u53ef\u4ee5\u7528\u751a\u9ebc\u65b9\u6cd5\u4f86\u9054\u6210\u5462?

\u7b2c\u4e00\u7a2e: \u900f\u904e\u5b78\u7fd2\u7372\u53d6\u6211\u5011\u6240\u9700\u8981\u7684\u6295\u8cc7\u77e5\u8b58\u3002<\/strong><\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

\u201c\u5c0d\u77e5\u8b58\u7684\u6295\u8cc7\u6703\u5e36\u4f86\u6700\u5927\u7684\u5229\u76ca\u3002\u201d-\u73ed\u5091\u660e\u30fb\u5bcc\u862d\u514b\u6797 (Benjamin\u30fbFranklin)<\/em><\/p>\n\n\n\n



\u7b2c\u4e8c\u7a2e: \u4f7f\u7528\u6a5f\u5668\u4eba\u7406\u8ca1\u7684\u670d\u52d9\uff0c\u512a\u9ede\u5c31\u662f\u7406\u6027\u4e0d\u53d7\u60c5\u7dd2\u5f71\u97ff\u3002<\/strong>

\u4e00\u500b\u6210\u529f\u7684\u8ca1\u52d9\u898f\u5283\u4e0d\u80fd\u55ae\u55ae\u5206\u6790\u6578\u5b57\uff0c\u5fc5\u9808\u77e5\u9053\u5927\u5bb6\u7684\u5fc3\u88e1\u5728\u60f3\u4ec0\u9ebc\uff0c\u4e86\u89e3\u5e02\u5834\u7684\u8da8\u52e2\u3002\u7576\u7136\uff0c\u9664\u4e86\u89e3\u5e02\u5834\uff0c\u6211\u5011\u66f4\u61c9\u8a72\u4e86\u89e3\u81ea\u5df1\uff0c\u6211\u5011\u505a\u6295\u8cc7\u6c7a\u7b56\u7684\u6642\u5019\uff0c\u5927\u90e8\u5206\u8ddf\u6211\u5011\u81ea\u5df1\u7684\u5fc3\u7406\u60c5\u7dd2\u548c\u884c\u70ba\u6709\u95dc\u3002<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

\u201c\u7121\u6cd5\u638c\u63e1\u60c5\u7dd2\u7684\u4eba\u4e0d\u9069\u5408\u5f9e\u6295\u8cc7\u904e\u7a0b\u4e2d\u7372\u5229\u3002\u201d-\u73ed\u5091\u660e\u30fb\u845b\u62c9\u6f22 (Benjamin\u30fbGraham)<\/em>
<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

\u201c\u6295\u8cc7\u4e26\u4e0d\u662f\u8981\u5728\u5225\u4eba\u7684\u904a\u6232\u4e2d\u64ca\u6557\u5225\u4eba\uff0c\u800c\u662f\u5728\u81ea\u5df1\u7684\u904a\u6232\u4e2d\u63a7\u5236\u81ea\u5df1\u3002\u201c \u2013 \u5091\u68ee\u30fb\u8328\u5a01\u683c (Jason\u30fbZweig)<\/em>

\u4eba\u771f\u7684\u662f\u7406\u6027\u7684\u55ce?<\/strong>

\u50b3\u7d71\u7684\u8ca1\u52d9\u7406\u8ad6(\u5982\u6548\u7387\u5e02\u5834)\u90fd\u5047\u8a2d\u4eba\u662f\u7406\u6027\u7684\uff0c\u4f46\u4e8b\u5be6\u4e0a\u771f\u7684\u662f\u9019\u6a23\u55ce?\u5982\u679c\u662f\u7684\u8a71\uff0c\u90a3\u91d1\u878d\u53f2\u4e0a\u7684\u6ce1\u6cab\u53c8\u662f\u5982\u4f55\u51fa\u73fe\u7684\u5462?

\u884c\u70ba\u8ca1\u52d9\u5b78\u900f\u904e\u5fc3\u7406\u5b78\u89e3\u91cb\u6548\u7387\u5e02\u5834\u4e2d\u7684\u7570\u5e38\u73fe\u8c61\uff0c\u884c\u70ba\u8ca1\u52d9\u5b78\u7684\u4e00\u500b\u5047\u8a2d\u662f\uff0c\u5e02\u5834\u7684\u8cc7\u8a0a\u548c\u53c3\u8207\u8005\u7684\u7279\u6027\u6703\u5f71\u97ff\u500b\u5225\u6295\u8cc7\u8005\u7684\u6c7a\u7b56\u53ca\u5e02\u5834\u7684\u7d50\u679c\uff0c\u56e0\u70ba\u771f\u6b63\u7684\u4eba\u4e26\u4e0d\u662f\u5b8c\u5168\u7406\u6027\u7684\uff0c\u6b63\u5982\u7f8e\u570b\u7684\u6295\u8cc7\u9867\u554f\u67e5\u723e\u65af\u2022\u827e\u5229\u65af\uff08Charles\u2022Ellis\uff09\u66fe\u7d93\u6253\u8da3\u7684\u8aaa\uff1a\u201c\u62c9\u65af\u7dad\u52a0\u65af\u6bcf\u5929\u90fd\u5f88\u5fd9\uff0c\u56e0\u70ba\u6211\u5011\u77e5\u9053\u4e0d\u662f\u6bcf\u500b\u4eba\u90fd\u7406\u6027\u3002\u201d

\u4ee5\u4e0b\u6574\u7406\u51fa\u6295\u8cc7\u8005\u5e38\u51fa\u73fe\u7684\u504f\u898b\uff0c\u4e86\u89e3\u9019\u4e9b\u504f\u898b\uff0c\u53ef\u4ee5\u5e6b\u52a9\u81ea\u5df1\u505a\u51fa\u66f4\u597d\u7684\u6c7a\u7b56\u3002

1. \u6377\u601d\u6cd5(Heuristics)<\/strong>
\u4eba\u6703\u6839\u64da\u904e\u53bb\u7684\u7d93\u9a57\u4f5c\u51fa\u5224\u65b7\uff0c\u4f46\u505a\u51fa\u7684\u5224\u65b7\u4e0d\u4e00\u5b9a\u662f\u5c0d\u7684\u3002
EX1:\u4f60\u7b2c\u4e00\u6b21\u9047\u5230\u72d7\u5c31\u88ab\u54ac\uff0c\u65bc\u662f\u4f60\u89ba\u5f97\u6240\u6709\u72d7\u90fd\u6703\u54ac\u4eba\u3002
EX2:\u6709\u4eba\u8ddf\u4f60\u8aaa\u4ed6\u8ffd\u6c42\u5b8c\u7f8e\u6709\u6f54\u7656\uff0c\u4f60\u5c31\u731c\u6e2c\u4ed6\u662f\u8655\u5973\u5ea7\u7684\u3002
EX3 :\u4f60\u5468\u906d\u7684\u89aa\u621a\u8cb7\u80a1\u7968\u90fd\u8ce0\u9322\uff0c\u65bc\u662f\u4f60\u89ba\u5f97\u8cb7\u80a1\u7968\u4e00\u5b9a\u6703\u8ce0\u9322\u3002

2. \u904e\u5ea6\u81ea\u4fe1(Overconfidence)<\/strong>
\u6709\u4e9b\u4eba\u6703\u56e0\u70ba\u904e\u53bb\u66fe\u7d93\u5728\u80a1\u7968\u5e02\u5834\u8cfa\u904e\u9322\uff0c\u5c31\u8a8d\u70ba\u81ea\u5df1\u662f\u4e0b\u4e00\u500b\u80a1\u795e\u5df4\u83f2\u7279\u3002

3. \u8655\u7f6e\u6548\u61c9(Disposition effect)<\/strong>
\u8a31\u591a\u4eba\u5728\u80a1\u7968\u5e02\u5834\u4ea4\u6613\u6642\uff0c\u559c\u6b61\u8ce3\u51fa\u8cfa\u9322\u7684\u80a1\u7968\uff0c\u7559\u4e0b\u8ce0\u9322\u7684\u80a1\u7968\u3002

4. \u5fc3\u7406\u5e33\u6236(Mental accounting)<\/strong>
\u4eba\u5011\u6703\u628a\u7b49\u50f9\u7684\u91d1\u9322\u5728\u5fc3\u88e1\u5283\u5206\u5230\u4e0d\u540c\u7684\u5e33\u6236\u3002
EX:\u85aa\u6c34\u8cfa\u4f86\u76841000\u584a\u548c\u767c\u7968\u4e2d\u734e\u5f97\u5230\u76841000\u584a\uff0c\u5c0d\u4f60\u4f86\u8aaa\u662f\u4e0d\u4e00\u6a23\u7684\uff0c\u5bb9\u6613\u628a\u4e2d\u734e\u7684\u9322\u82b1\u6389\u3002

5. \u719f\u6089\u504f\u8aa4\/\u672c\u571f\u504f\u8aa4(Familiarity bias \/Home bias)<\/strong>
\u4eba\u5011\u8a8d\u70ba\u81ea\u5df1\u6bd4\u8f03\u719f\u6089\u7684\u4e8b\u7269\u6703\u6bd4\u8f03\u597d\u3002
EX:\u4f60\u6703\u50be\u5411\u8cb7\u53f0\u7063\u7684\u80a1\u7968\u800c\u975e\u7f8e\u570b\u7684\u80a1\u7968\u3002


\u6211\u5011\u500b\u4eba\u7121\u6cd5\u907f\u514d\u9019\u4e9b\u504f\u898b\u7684\u51fa\u73fe\uff0c\u56e0\u6b64\u6211\u5011\u53ef\u4ee5\u900f\u904e\u6a5f\u5668\u4eba\u7406\u8ca1\u4f86\u5e6b\u52a9\u6211\u5011\u66f4\u6709\u7d00\u5f8b\u7684\u5be6\u65bd\u81ea\u5df1\u7684\u6295\u8cc7\u7b56\u7565\u3002



\u53c3\u8003\u8cc7\u6599: Baker, H.K., & Ricciardi, V. (2015). Understanding Behavioral Aspects of Financial Planning and Investing. Journal of Financial Planning, 28(3), 22-26.<\/p>\n","protected":false},"excerpt":{"rendered":"

\u5927\u90e8\u5206\u7684\u6295\u8cc7\u4eba\u6700\u5e38\u4f7f\u7528\u57fa\u672c\u9762\u5206\u6790\u3001\u6280\u8853\u9762\u5206\u6790\u7b49\u4f86\u505a\u6295\u8cc7\u5224\u65b7\uff0c\u4f46\u5176\u5be6\u6211\u5011\u90fd\u5ffd\u7565\u4e86\u4e00\u4ef6\u6703\u5c0d\u6295\u8cc7\u9020\u6210\u91cd\u5927\u5f71\u97ff\u7684\u4e8b\u60c5\uff0c […]<\/p>\n","protected":false},"author":2,"featured_media":1199,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[226,295,407],"class_list":["post-1198","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-10","tag-226","tag-295","tag-407"],"blocksy_meta":{"styles_descriptor":{"styles":{"desktop":"","tablet":"","mobile":""},"google_fonts":[],"version":6}},"_links":{"self":[{"href":"https:\/\/blog.roboadvisor.com.tw\/index.php?rest_route=\/wp\/v2\/posts\/1198","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.roboadvisor.com.tw\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.roboadvisor.com.tw\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.roboadvisor.com.tw\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.roboadvisor.com.tw\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1198"}],"version-history":[{"count":0,"href":"https:\/\/blog.roboadvisor.com.tw\/index.php?rest_route=\/wp\/v2\/posts\/1198\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.roboadvisor.com.tw\/index.php?rest_route=\/wp\/v2\/media\/1199"}],"wp:attachment":[{"href":"https:\/\/blog.roboadvisor.com.tw\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1198"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.roboadvisor.com.tw\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1198"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.roboadvisor.com.tw\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1198"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}