The time course of visual foraging in the lifespan: Spatial scanning, organization search, and target processing.

Visual foraging is a variant of visual search, consisting of searching for an undetermined number of targets among distractors (e.g., looking for various LEGO pieces in a box). Under non-exhaustive tasks, the observer scans the display, picking those targets needed, not necessarily all of them, before leaving the search. To understand how the organization of such natural foraging tasks works, several measures of spatial scanning and organization have been proposed in the exhaustive foraging literature: best-r, intertarget distances, PAO, and target intersections. In the present study, we apply these measures and new Bayesian indexes to determine how the time course of visual foraging is organized in a dynamic non-exhaustive paradigm. In a large sample of observers (279 participants, 4-25 years old), we compare feature and conjunction foraging and explore how factors like set size and time course, not previously tested in exhaustive foraging, might affect search organization in non-exhaustive dynamic tasks. The results replicate previous findings showing younger observers' searching being less organized, feature conditions being more organized than conjunction conditions, and organization leading to a more effective search. Interestingly, observers tend to be less organized as set size increases, and search is less organized within a patch as it advances in time: Search organization decreases when search termination is coming, suggesting organization measures as potential clues to understand quitting rules in search. Our results highlight the importance of studying search organization in foraging as a critical source of understanding complex cognitive processes in visual search.

The Role of Cognition in Dishonest Behavior.

Dishonesty has received increased attention from many professionals in recent years for its relevance in many social areas such as finance and psychology, among others. Understanding the mechanisms underlying dishonesty and the channels in which dishonesty operates could enable the detection and even prevention of dishonest behavior. However, the study of dishonesty is a challenging endeavor; dishonesty is a complex behavior because it imposes a psychological and cognitive burden. The study of this burden has fostered a new research trend that focuses on cognition's role in dishonesty. This paper reviews the theoretical aspects of how such cognitive processes modulate dishonest behavior. We will pay special attention to executive functions such as inhibitory processes, working memory, or set-shifting that may modulate the decision to be (dis)honest. We also account for some frameworks in cognitive and social psychology that may help understand dishonesty, such as the Theory of Mind, the role of creative processes, and discourse analyses within language studies. Finally, we will discuss some specific cognitive-based models that integrate cognitive mechanisms to explain dishonesty. We show that cognition and dishonest behavior are firmly related and that there are several important milestones to reach in the future to advance the understanding of dishonesty in our society.

I can look for it! Modulation of a concurrent Visual Working Memory task in Visual Search in development.

Daily classroom activities that require children to perform visual search (VS) tasks are common across all educational levels: from searching for a missing piece of a puzzle in kindergarten to solving equations in college. However, VS tasks are often not performed in isolation, but rather students are maintaining information related to an ongoing task that loads working memory (WM). Unfortunately, it is still unclear how these processes interact and evolve in development. The present work aims to study how a concurrent visual WM (VWM) load can modulate VS performance based on the Developmental Model of Endogenous Mental Attention (Pascual-Leone and Johnson, 1999, 2005, 2021). A sample of kindergarten, elementary (2nd and 4th grades), middle school (6th grade), and college students looked for real-world photorealistic targets while maintaining similar objects in VWM in a dual-task paradigm. VWM load was manipulated using high and low memory load conditions. Additionally, looking for potential modulations related to individual differences, we studied the relationship between IQ, VWM span, and executive functions with VS efficiency. Finally, we also registered reported measures of potential strategies employed during the VS task. The results from a large sample of 147 participants between 5 and 25 years old revealed that even the youngest children could efficiently perform a VS task with a concurrent VWM load, replicating previous results found in adulthood. However, we found a slight increase in false alarms and commission errors when memory was highly loaded for all the participants regardless of age. As expected, we found positive correlations between VS efficiency and IQ and VWM span measures. Interestingly, the proportion of participants who used tracking organization strategies increased with age in all cases. However, although cognitive strategies to remember the target became more complex as age increased, it was only significant under the low VWM load conditions. The results seem relevant to understanding the development of VS based on the Model of Endogenous Mental Attention and the design of training programs to improve attention. The implications in educational contexts are discussed and are especially relevant for students with learning disabilities or attention problems.

Foraging behavior in visual search: A review of theoretical and mathematical models in humans and animals.

Visual search (VS) is a fundamental task in daily life widely studied for over half a century. A variant of the classic paradigm-searching one target among distractors-requires the observer to look for several (undetermined) instances of a target (so-called foraging) or several targets that may appear an undefined number of times (recently named as hybrid foraging). In these searches, besides looking for targets, the observer must decide how much time is needed to exploit the area, and when to quit the search to eventually explore new search options. In fact, visual foraging is a very common search task in the real world, probably involving additional cognitive functions than typical VS. It has been widely studied in natural animal environments, for which several mathematical models have been proposed, and just recently applied to humans: Lévy processes, composite and area-restricted search models, marginal value theorem, and Bayesian learning (among others). We conducted a systematic search in the literature to understand those mathematical models and study its applicability in human visual foraging. The review suggests that these models might be the first step, but they seem to be limited to fully comprehend foraging in visual search. There are essential variables involving human visual foraging still to be established and understood. Indeed, a jointly theoretical interpretation based on the different models reviewed could better account for its understanding. In addition, some other relevant variables, such as certain individual differences or time perception might be crucial to understanding visual foraging in humans.

Gender Differences in Individual Dishonesty Profiles.

Dishonesty has an enormous impact on all aspects of our society. It causes huge financial losses annually, so efforts to understand dishonest behavior have increased. However, one of the main questions yet to be answered is whether dishonesty varies according to gender. Do men behave more dishonestly than women? Although the literature points to a yes, there is still no consensus on the matter. We examined gender differences in dishonesty in a large sample (N = 2,452) using a model recently developed by Pascual-Ezama et al. It is a variation of the classic die-under-the-cup task. It enabled us to identify individual dishonesty profiles and look for gender differences between them. The results show that the men were more prone to behave dishonestly than women with small rewards, who seem satisfied without maximizing the potential reward. However, the differences vanished when there was no reward. The men also showed more radical dishonest behavior than the women. The results also suggest that gender differences might be shaped by factors other than gender.

Cheaters, Liars, or Both? A New Classification of Dishonesty Profiles.

Experimental studies of dishonesty usually rely on population-level analyses, which compare the distribution of claimed rewards in an unsupervised, self-administered lottery (e.g., tossing a coin) with the expected lottery statistics (e.g., 50/50 chance of winning). Here, we provide a paradigm that measures dishonesty at the individual level and identifies new dishonesty profiles with specific theoretical interpretations. We found that among dishonest participants, (a) some did not bother implementing the lottery at all, (b) some implemented but lied about the lottery outcome, and (c) some violated instructions by repeating the lottery multiple times until obtaining an outcome they felt was acceptable. These results held both in the lab and with online participants. In Experiment 1 (N = 178), the lottery was a coin toss, which permitted only a binary honest/dishonest response; Experiment 2 (N = 172) employed a six-sided-die roll, which permitted gradations in dishonesty. We replicated some previous results and also provide a new, richer classification of dishonest behavior.

Efficiency and accuracy of visual search develop at different rates from early childhood through early adulthood.

Most studies of visual search across the life span have focused on classic feature and conjunction searches in which observers search for a fixed, simple shape target among relatively homogeneous distractors over a block of multiple trials. In the present study, we examine a more realistic task in which participants (4 to 25 years-old) look for images of real objects, presented amongst a heterogeneous array of other objects. The target is unique on every trial, unlike in previous developmental studies of visual search. Our new touchscreen-based "Pirate-Treasure" search also allows the testing of younger children within a video-game-like task. With this method, we tested a large sample (n = 293) of typically developing children and young adults. We assessed the developmental course of different search metrics like search efficiency, motor response differences, and accuracy (misses and false-alarm errors). Results show the most rapid time courses in development for accuracy. Search slopes reach the young adult level most slowly. The intercepts of the Reaction Time (RT) × Set Size function are often attributed to nonsearch perceptual and motor components of the task. The intercept time course is intermediate between accuracy and slope. Interestingly, these developmental functions follow time courses proposed in neuropsychological models of executive function development. This suggests that a single, video-game-like search task could be useful in routine assessments of cognitive development.

Can concurrent memory load reduce distraction? A replication study and beyond.

The effects of concurrent working memory load in attentional processes have been 1 of the most puzzling issues in cognitive psychology. Studies have shown detrimental effects, no effects, and even beneficial effects of working memory load in different attentional tasks. In the present study we attempted to replicate Kim, Kim, and Chun's (2005, Experiment 3b) findings of beneficial effects of concurrent working memory load in a spatial Stroop-like task. In 3 experiments in which our sample was 3 times larger than that in the original Kim et al. study, we could not replicate their findings. The results are discussed in terms of what may have produced the conflicting results, trying to shed light on how working memory load affects attentional tasks. Also, we emphasize the importance of using adequately large samples in cognitive research. Although we acknowledge the relevance of meta-analyses to analyze conflicting results, in the present article we stress (perhaps more important) the power of an essential trademark in science for research development: replicability.

Peer effects in unethical behavior: standing or reputation?

Recent empirical evidence shows that working in an unsupervised, isolated situation under competition, can increase dishonest behavior to achieve prestige. However, could working in a common space, in the presence of colleagues affect cheating? Here, we examine how familiar-peer influence, supervision and social incentives affect worker performance and dishonest behavior. First, we show that working in the presence of peers is an effective mechanism to constrain honest/dishonest behavior compared to an isolated work situation (experiment 1). Second, we demonstrate that the mere suspicion of dishonesty from another peer is not enough to affect individual cheating behavior (experiment 2), suggesting that reputation holds great importance in a worker's self-image acting as a strong social incentives. Third, we show that when the suspicion of dishonesty increases with multiple peers behaving dishonestly, the desire to increase standing is sufficient to nudge individuals' behavior back to cheating at the same levels as isolated situations (experiment 3).

Can we predict individual investors' behavior in stock markets? A psychological approach / ¿Es posible predecir el comportamiento de los inversionistas en los mercados bursátiles? Una aproximación psicológica

Understanding financial markets and investors' behavior is one of the biggest objectives in finance. However, most of the research obtained conclusions about individual investors, but they are not studying real individual investors' behavior: they analyzed stock price evolution or used aggregate investor data that essentially belongs to founds and big investors. Psychology has improved financial knowledge and solved many of those financial limitations. Because of that, we decided to apply one of the most valid psychological models to study human behavior, in order to better understand real individual investors' behavior: the Theory of Planned Behavior (TPB; Ajzen, 1991). The model was applied to 127 real investors obtained by the "snowball" technique. According to results, TPB seems to be a good model to understand individual investor's behavior, while explaining 63% of the investments' intentions and 48% of the investments' behavior.

Entender los mercados financieros y el comportamiento de los inversionistas es uno de los objetivos principales en materia de finanzas. Sin embargo, se encuentra que la mayor parte de las conclusiones de estas investigaciones sobre los inversionistas no estudian el comportamiento de los mismos: normalmente se encuentra un análisis de la evolución de los precios de las acciones o datos utilizados de inversionistas que pertenecen esencialmente a los grandes mercados. La psicología ha mejorado el conocimiento financiero y ha resuelto muchas de las limitaciones en finanzas. Debido a esto, se ha decidido aplicar uno de los modelos psicológicos más válidos para estudiar el comportamiento humano, con el fin de comprender mejor el comportamiento de los inversionistas. Este modelo es la Teoría del Comportamiento Planeado ([TPB]; Ajzen, 1991). El modelo se aplicó a 127 inversionistas reclutados por la técnica de "bola de nieve". Según los resultados, el TPB parece ser un buen modelo para comprender el comportamiento de los individuos, al tiempo que explicó el 63 % de la intención de inversión y el 48 % de la conducta de inversión.

Working memory effects in speeded RSVP tasks.

The present paper examines the effects of memory contents and memory load in rapid serial visual presentation (RSVP) speeded tasks, trying to explain previous inconsistent results. We used a one target (Experiment 1) and a two-target (Experiment 2) RSVP task with a concurrent memory load of one or four items, in a dual-task paradigm. A relation between material in working memory and the target in the RSVP impaired the identification of the target. In Experiments 3 and 4, the single task was to determine whether any information in memory matched the target in the RSVP, while varying the memory load. A match was detected faster than a non-match, although only when there was some distance between targets in the RSVP (Experiment 4). The results suggest that memory contents automatically capture attention, slowing processing when the memory contents are irrelevant to the task, and speeding processing when they are relevant.

La metodología Delphi como técnica de estudio de la validez de contenido / The Delphi Method as a technique to study Validity of Content

Encontrar procedimientos que nos garanticen altos niveles de validez es uno de los grandes retos de la metodología en psicología hoy en día. En el presente estudio presentamos la metodología Delphi como técnica para el estudio de la validez de contenido. Esta metodología presenta una ventaja esencial respecto a los métodos de expertos tradicionales: su aplicación es flexible y dinámica permitiendo una mayor retroalimentación entre los expertos participantes. Se aplicó la metodología Delphi en la elaboración de un cuestionario sobre el comportamiento de inversores individuales en bolsa (Pascual-Ezama, et al., 2010) y se calcularon los índices de congruencia (Rovinelli y Hambleton, 1977) a lo largo de las distintas fases del Delphi. Los resultados ponen de manifiesto que la metodología Delphi puede ser una buena herramienta que nos permita garantizar altos niveles de validez de contenido en un cuestionario. Se discuten también las ventajas e inconvenientes de los métodos de expertos habituales respecto a la metodología Delphi, y cómo el presente estudio aúna metodologías esencialmente cuantitativas con metodologías más cualitativas como el método Delphi. Este nexo entre métodos tan dispares es, sin duda, uno de los campos a explorar y desarrollar en la metodología actualmente (AU)

Finding procedures that may guarantee high levels of validity is one of the big challenges in methods in psychology nowadays. In the pre-sent study, we show the Delphi method as a technique to study the validity of content. This method shows an important advantage regarding to traditional expert methods: it is flexible and dynamic in its application, allowing the presence of feedback between the expert participants. We applied the Delphi method during the development of a questionnaire of individual investors’ behavior in the stock exchange (Pascual-Ezama, et al., 2010), also calculating congruency indexes (Rovinelli y Hambleton, 1977) along the different stages of the Delphi application. The results show that the Delphi method may be a good tool in order to guarantee high levels of validity of content in a questionnaire. Advantages as well as disadvantages of the traditional expert methods and the Delphi method, and how the present study joins quantitative and qualitative methods like the Delphi, are discussed. This link between those different types of methods is, with no doubt, one of the fields to explore and develop in methodology nowadays (AU)

Research participation improves student's exam performance.

Although there have been several attempts to explore for beneficial effects of research participation in social sciences, most of them have mainly explored satisfaction and students learning perceptions (e.g., Bowman & Waite, 2003). Very few works have studied learning by measuring exam performance. Moreover, participation has been usually conceptualized as a mixture of active and passive participation, including in the same measure different practices such as filling up questionnaires, running experiments or reading and answering questions about a journal article or a scientific conference. The present work tries to determine if there is an advantage due to research participation comparing exam performance, satisfaction and perceived learning of the matter Research Methods in Psychology, in three different groups (non-participating, passive and active participating). As we can see in the results, the mere participation benefits exam performance. Results are discussed in terms of the use of research participation as a new powerful active method in education.

Research participation improves student’s exam performance

Although there have been several attempts to explore for beneficial effects of research participation in social sciences, most of them have mainly explored satisfaction and students learning perceptions (e.g., Bowman & Waite, 2003). Very few works have studied learning by measuring exam performance. Moreover, participation has been usually conceptualized as a mixture of active and passive participation, including in the same measure different practices such as filling up questionnaires, running experiments or reading and answering questions about a journal article or a scientific conference. The present work tries to determine if there is an advantage due to research participation comparing exam performance, satisfaction and perceived learning of the matter Research Methods in Psychology, in three different groups (non-participating, passive and active participating). As we can see in the results, the mere participation benefits exam performance. Results are discussed in terms of the use of research participation as a new powerful active method in education (AU)

Aunque ha habido varios intentos por estudiar los posibles efectos beneficiosos de la participación en investigaciones en ciencias sociales, la mayoría de ellos han estudiado la satisfacción y la percepción de aprendizaje de los alumnos (e.g., Bowman & Waite, 2003), y muy pocos trabajos han tomado medidas del rendimiento en los exámenes. Además, la participación ha sido habitualmente conceptualizada como una mezcla entre participación activa y pasiva, incluyendo en la misma medida prácticas muy distintas tales como rellenar cuestionarios, pasar experimentos o leer y responder a una serie de cuestiones sobre un artículo o una conferencia científica. El presente trabajo pretende determinar si existe beneficio en el rendimiento en un examen, la satisfacción y el aprendizaje percibido por los alumnos en la materia de Métodos de investigación en psicología, en tres grupos distintos (grupo de no participación, participación pasiva y participación activa) gracias a la participación en una investigación en psicología. Como se puede ver en los resultados, la mera participación beneficia la ejecución en el examen. Los resultados son discutidos en términos del uso de la participación de nuestros estudiantes en investigaciones, como un nuevo y potente método activo de educación (AU)

Concurrent memory load can make RSVP search more efficient

El efecto perjudicial de la carga de memoria en la atención selectiva ha sido ampliamente estudiado en muy diversas situaciones. Sin embargo, en situaciones de búsqueda visual en el tiempo utilizando Presentaciones Rápidas de Series Visuales (PRSV), no está claro cómo la carga de memoria puede afectar los procesos atencionales involucrados en este tipo de tareas; una ausencia de efecto, así como efectos tanto beneficiosos como perjudiciales de la carga de memoria se han encontrado utilizando este tipo de tareas. El principal objetivo del presente trabajo es aportar más evidencia sobre el papel que la memoria de trabajo juega en situaciones de búsqueda visual en el tiempo. Utilizando un paradigma de PRSV, manipulamos el número de distractores (experimento 1) y la congruencia en una tarea tipo-Stroop (experimento 2), encontrando que bajo situaciones de alta carga de memoria se puede incrementar la eficiencia en la búsqueda visual en el tiempo. Nuestros datos apoyan la existencia de similitudes entre la atención en el espacio y en el tiempo, planteando la posibilidad de que exista un sistema atencional general independiente de la dimensión estimular. Sin embargo, también encontramos importantes diferencias, por lo que se discuten las implicaciones teóricas que puedan explicar los resultados encontrados(AU)

The detrimental effect of increased memory load on selective attention has been demonstrated in many situations. However, in search tasks over time using RSVP methods, it is not clear how memory load affects attentional processes; no effects as well as beneficial and detrimental effects of memory load have been found in these types of tasks. The main objective of the present work is to provide more evidence about the involvement of working memory in visual search over time. Using an RSVP search task, we manipulated set size (experiment 1) and congruency in a Stroop-like task (experiment 2), finding that high memory load conditions sometimes increase the efficiency of search over time. Our data also support important similarities between attention in space and time showing that there might be a general system for allocating attentional resources independent of stimulus dimension. However, there are also important differences, thus theoretical implications of present results are discussed(AU)

Effects of memory load on visual search.

It remains unclear how memory load affects attentional processes in visual search (VS). No effects, as well as beneficial and detrimental effects of memory load, have been found in this type of task. The main goal of the present research was to explore whether memory load has a modulating effect on VS by means of a different attentional set induced by the order of trials (mixed vs. blocked) and by the time presentation of visual display (long vs. short). In Experiment 1, we randomized the order of type of trial (5, 10 and 15 items presented in the display) while it remained constant (10 items) in Experiments 2A and 2B. In the later experiments, we also changed time presentation of visual display (3000 vs. 1300 ms, respectively). Results showed no differential effects of memory load in Experiments 1 and 2A, but they showed up in Experiment 2B: RTs were longer in the attentional task for trials under high memory load conditions. Although our hypothesis of the attentional set is supported by the results, other theoretical implications are also worth discussing in order to better understand how memory load may modulate attentional processes in VS.

[Development and validation of a questionnaire about the main variables affecting the individual investor's behavior in the Stock Exchange]. / Elaboración y validación de una escala sobre las principales variables que afectan a la conducta de los inversores individuales en los mercados bursátiles.

Development and validation of a questionnaire about the main variables affecting the individual investor's behavior in the Stock Exchange. There is a considerable lack of information about the methodology usually used in most of the studies about individual investor's behavior. The studies reviewed do not show the method used in the selection of the items or the psychometric properties of the questionnaires. Because of the importance of investment in the Stock Exchange nowadays, it seems relevant to obtain a reliable instrument to understand individual investor's behavior in the Stock Exchange. Therefore, the goal of the present work is to validate a questionnaire about the main variables involved in individual investors' behavior in the Stock Exchange. Based on previous studies, we elaborated a questionnaire using the Delphi methodology with a group of experts. The internal consistency (Cronbach alpha=.934) and validity evidence of the questionnaire show that it may be an effective instrument and can be applied with some assurance.

Attentional distractor interference may be diminished by concurrent working memory load in normal participants and traumatic brain injury patients.

A reduction in congruency effects under working memory (WM) load has been previously described using different attentional paradigms (e.g., Kim, Kim, & Chun, 2005; Smilek, Enns, Eastwood, & Merikle, 2006). One hypothesis is that different types of WM load have different effects on attentional selection, depending on whether a specific memory load demands resources in common with target or distractor processing. In particular, if information in WM is related to the distractors in the selective attention task, there is a reduction in distraction (Kim et al., 2005). However, although previous results seem to point to a decrease in interference under high WM load conditions (Kim et al., 2005), the lack of a neutral baseline for the congruency effects makes it difficult to differentiate between a decrease in interference or in facilitation. In the present work we included neutral trials in the task introduced by Kim et al. (2005) and tested normal participants and traumatic brain injury patients. Results support a reduction in the processing of distractors under WM load, at least for incongruent trials in both groups. Theoretical as well as applied implications are discussed.

Effects of memory load on visual search

No está claro el efecto que la carga de memoria tiene sobre la atención en la Búsqueda Visual (BV): se ha encontrado tanto ausencia como efectos negativos y positivos de la carga de memoria en BV. El principal objetivo del presente trabajo fue explorar si la carga de memoria puede modular una tarea de BV por medio de la influencia del «estado o set atencional» de los participantes, generado a través del orden (aleatorio versus bloqueado) y el tiempo (largo versus corto) de presentación de los ensayos. En el experimento 1 se aleatorizó el orden de presentación (5, 10 y 15 estímulos), mientras que para los experimentos 2A y 2B permaneció constante (10 estímulos). En estos últimos cambiamos el tiempo de presentación (3000 versus 1300, respectivamente). Los resultados mostraron ausencia de efectos de la carga de memoria en los experimentos 1 y 2A, mientras que sí se encontraron en el experimento 2B: los TRs en la tarea de BV fueron significativamente mayores con carga alta de memoria; apoyando nuestra hipótesis sobre el «set atencional». Se discuten también otras posibles implicaciones teóricas para comprender mejor cómo la carga de memoria puede modular los procesos atencionales involucrados en BV (AU)

It remains unclear how memory load affects attentional processes in visual search (VS). No effects, as well as beneficial and detrimental effects of memory load, have been found in this type of task. The main goal of the present research was to explore whether memory load has a modulating effect on VS by means of a different attentional set induced by the order of trials (mixed vs. blocked) and by the time presentation of visual display (long vs. short). In Experiment 1, we randomized the order of type of trial (5, 10 and 15 items presented in the display) while it remained constant (10 items) in Experiments 2A and 2B. In the later experiments, we also changed time presentation of visual display (3000 vs. 1300 ms, respectively). Results showed no differential effects of memory load in Experiments 1 and 2A, but they showed up in Experiment 2B: RTs were longer in the attentional task for trials under high memory load conditions. Although our hypothesis of the attentional set is supported by the results, other theoretical implications are also worth discussing in order to better understand how memory load may modulate attentional processes in VS (AU)

Elaboración y validación de una escala sobre las principales variables que afectan a la conducta de los inversores individuales en los mercados bursátiles / Development and validation of a questionnaire about the main variables affecting the individual investor’s behavior in the Stock Exchange

Dentro de los estudios en los que se ha analizado la información relevante para el análisis del comportamiento de los inversores individuales en los mercados bursátiles, hemos encontrado, en términos generales, una enorme falta de información sobre las herramientas utilizadas para la recogida de datos. Debido a la relevancia que está adquiriendo la inversión en los mercados bursátiles hoy en día, el objetivo de este estudio es elaborar y validar una escala sobre las principales variables que afectan a la conducta de los inversores individuales en los mercados bursátiles. Basándonos en la información disponible en estudios anteriores, se seleccionaron un conjunto de ítems a partir de los cuales un grupo de expertos mediante una aproximación a la metodología Delphi elaboró la lista definitiva de ítems que componen el cuestionario. Tanto la consistencia interna (alpha de Cronbach= 0,934) como las evidencias de validez nos permiten concluir que la escala parece ser una herramienta eficaz y puede ser utilizada con ciertas garantías (AU)

There is a considerable lack of information about the methodology usually used in most of the studies about individual investor’s behavior. The studies reviewed do not show the method used in the selection of the items or the psychometric properties of the questionnaires. Because of the importance of investment in the Stock Exchange nowadays, it seems relevant to obtain a reliable instrument to understand individual investor’s behavior in the Stock Exchange. Therefore, the goal of the present work is to validate a questionnaire about the main variables involved in individual investors’ behavior in the Stock Exchange. Based on previous studies, we elaborated a questionnaire using the Delphi methodology with a group of experts. The internal consistency (Cronbach alpha= .934) and validity evidence of the questionnaire show that it may be an effective instrument and can be applied with some asssurance (AU)