Investment preferences and risk perception : financial agents versus clients

Luisa Kling, Christian König-Kersting, and Stefan T. Trautmann

We study three fundamental components of financial agency settings: Perception and communication of investment profiles, the interaction of agents’ and clients’ preferences, and the role of (non-)monetary incentives. The perception of investment profile terminology is very heterogeneous, resulting in substantial miscommunication between clients and agents. Financial agents show a high willingness to implement their clients’ preferred investment profiles independent of monetary incentives. Agents’ investments for their clients are biased by their own investment preferences.

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Year of publication:	November 18, 2019
Authors:	Kling, Luisa ; König-Kersting, Christian ; Trautmann, Stefan T.
Publisher:	University of Heidelberg, Department of Economics
Subject:	Decisions under risk \| decisions of agents \| risk perception \| financial advice \| Risikopräferenz \| Risk attitude \| Anlageverhalten \| Behavioural finance \| Risiko \| Risk \| Entscheidung \| Decision \| Risikomanagement \| Risk management \| Theorie \| Theory \| Prinzipal-Agent-Theorie \| Agency theory \| Entscheidung unter Risiko \| Decision under risk \| Anlageberatung \| Financial advisors \| Risikoaversion \| Risk aversion \| Experiment

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Extent:	1 Online-Ressource (33 Seiten) Illustrationen
Series:	Discussion paper series / University of Heidelberg, Department of Economics. - Heidelberg : [Verlag nicht ermittelbar], ZDB-ID 2217357-2. - Vol. no. 674
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Graue Literatur ; Non-commercial literature ; Arbeitspapier ; Working Paper
Language:	English
Other identifiers:	10.11588/heidok.00027393 [DOI] hdl:10419/234996 [Handle]
Classification:	D14 - Personal Finance ; D83 - Search, Learning, Information and Knowledge ; G11 - Portfolio Choice ; G21 - Banks; Other Depository Institutions; Mortgages
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10012124358