ABSTRACT
This research aims to investigate the effects of reinforcement learning and risk averse level upon preference to investment on Initial Public Offering (IPO). Quasi experiment is used as research method, along with the participation of students from management department UPI, who have taken a financial management course and have knowledge in the capital market. The hypothesis tests used in this research are the Mann-Whitney test and Two-way ANOVA test. This research found there to be significantly different investment decisions between those participants who have positive reinforcement learning and those groups of participants who have negative reinforcement. There are significantly different investment decisions in a group of participants who have Less Risk Averse preference and a group of participants who have More Risk Averse preference. The research also found that there is no interaction between reinforcement learning and risk preference on IPO investment decision.
