認知反思對時間偏好與風險偏好之影響-以台灣學生為例

本研究主要目的為探討國內學生認知反思能力對時間偏好與風險偏好的影響，並將本研究之結果與國外學者之研究結果做對照。認知反思對時間偏好與風險偏好之影響是近幾年的議題，多為國外學者研究，並指出高認知反思者在財務方面具有較高的耐心及風險承受能力，但若將認知反思對時間偏好與風險偏好之影響轉移至國內做驗證，是否會受到不同文化理念的影響而有不同的表現，因此本研究以國內學生為對象做相同的驗證，透過線上問卷衡量每位受測者在時間偏好與風險偏好的表現，並將受測者依認知反思能力分兩群後使用無母數卡方分析，研究結果發現(1)認知反思確實會影響決策者對時間偏好與風險偏好的表現，(2)國內外學生在相同情境的表現不完全相同，說明認知反思會受到文化理念影響產生不同思考方向，而影響到決策者的表現。最後，根據國內學生在不同財務類型的表現結果，希望提供財務相關業者可以有參考及改進的方向。

關鍵字

認知反思；時間偏好；風險偏好

並列摘要

The influence of cognitive reflection on time preference and risk preference was popular issue in recent years, and most of these researches were conducted abroad. They showed people with high cognitive reflection had higher patience and risk tolerance ability on finance. However, we would like to know that whether making domestic verification for the influence of cognitive reflection on time preference and risk preference shows distinct patterns due to different cultural contents. We measure their performance on time preference and risk preference through on-line questionnaire, and analyzed through non-parametric chi-square analysis after categorizing subjects into two groups according to cognitive reflection ability. It showed that (1) cognitive reflection did influence the patterns of time and risk preference, and (2) the presentation of students from home and abroad were not exactly the same facing the same scenario, which showed the cognitive reflection would be shifted by cultural content and further influence the performance of decision makers. At last, the performances of domestic students in distinct financial issues were provided, with expectations to serve as reference for financial industry to improve.