Variable

Description

Data Source

Risk Tolerance

The level of investment risk an investor is willing to bear

Investor’s wealth status, age, gender, occupation, etc.

Return Expectations

Investor’s expectations regarding investment returns

Market data, historical data, macroeconomic indicators, etc.

Market Information

Information obtained by investors about the market

News, research reports, historical data, etc.

Personality Traits

Investor’s personal traits, such as overconfidence, optimism, or pessimism

Investor’s trading records, surveys, etc.