AI-driven interviews reveal how global investors choose stocks
Theprocess by which individuals select stocks has long been a central question in finance and is often examined through theoretical models or analyses of trading data. Traditional financial models such as the Efficient Market Hypothesis or classical asset-pricing theories make strong assumptions about rational behaviour and homogeneous information processing. Yet, real human investors often behave in ways that deviate from these theoretical frameworks. The groundbreaking 2025 study by Hwang, Noh, and Shin, “How Investors Pick Stocks: Global Evidence from 1,540 AI-Driven Field Interviews,” takes a radically different and more direct approach.
By conducting and analyzing a massive number of AI-driven interviews with actual investors…
