A test of the representativeness bias effect on stock prices: A study of Super Bowl commercial likeability

C-Tier
Journal: Economics Letters
Year: 2009
Volume: 103
Issue: 1
Pages: 49-51

Authors (3)

Chang, Charles (not in RePEc) Jiang, Jing (not in RePEc) Kim, Kenneth A. (Tongji University)

Score contribution per author:

0.335 = (α=2.01 / 3 authors) × 0.5x C-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

We test 17years of Super Bowl commercials, finding that "liked" commercials coincide with higher stock returns, despite controls for firm size and changes in sales. This is consistent with representativeness bias, the irrational relation of firm characteristics to returns.

Technical Details

RePEc Handle
repec:eee:ecolet:v:103:y:2009:i:1:p:49-51
Journal Field
General
Author Count
3
Added to Database
2026-01-25