Table 9. Results of ordinal regression... | Emerald Publishing

Table 9.

Results of ordinal regression for gambler’s fallacy bias

χ² 9.352 P = 0.405	Estimate	Std. error	Wald	Sig.
Explained variable
Gambler’s Fallacy = 1	−1.524	1.233	1.528	0.216
Gambler’s Fallacy = 2	−0.138	1.230	0.013	0.911
Explanatory variable
Financial literacy score	−0.069	0.029	5.449	0.020**
Gender	−0.154	0.220	0.491	0.484
Age group	−0.243	0.233	1.088	0.297
Education	−0.109	0.239	0.208	0.648
Area of specialization	0.291	0.382	0.580	0.446
Average income	−0.186	0.244	0.580	0.446
Main source of information	0.227	0.213	1.133	0.287
Preferred investment	0.044	0.229	0.037	0.847
Frequency of information	0.094	0.703	0.018	0.894

χ² 9.352P = 0.405	Estimate	Std. error	Wald	Sig.
Explained variable
Gambler’s Fallacy = 1	−1.524	1.233	1.528	0.216
Gambler’s Fallacy = 2	−0.138	1.230	0.013	0.911
Explanatory variable
Financial literacy score	−0.069	0.029	5.449	0.020**
Gender	−0.154	0.220	0.491	0.484
Age group	−0.243	0.233	1.088	0.297
Education	−0.109	0.239	0.208	0.648
Area of specialization	0.291	0.382	0.580	0.446
Average income	−0.186	0.244	0.580	0.446
Main source of information	0.227	0.213	1.133	0.287
Preferred investment	0.044	0.229	0.037	0.847
Frequency of information	0.094	0.703	0.018	0.894

Notes:

**p ≤ 0.05

Source: Author calculations based on primary data