Does Culture Affect in the Financial Decision Making of Rational Man? Chinese vs. Anglo-Saxon Perspective

In traditional finance theory, models assume a rational man that is used to make decisions that always maximize his benefit. In this model, it does not matter if the rational man is German or Chinese because the decision making does not depend on a nationality or a culture. In this paper, we designed an experiment in which we polled individuals, from two different cultural schemes, about the same financial phenomenon.First, we take into account that the observed phenomenon is the same. If culture does not affect the making of financial decisions, the survey results from both groups will be quite similar. On the other hand, if culture is a variable to consider in the different models of the financial market behaviors, the results of the survey of both groups will be significantly different. Summarizing, in this paper we try to show evidences, so that we can prove that the variable culture is important and it should be considered in the different kind of financial models