Risk Attitude and Market Behavior : Evidence from Experimental Asset Markets

In this paper we relate individual risk attitude as elicited by binary lotteries and certainty equivalents to market behavior. By analyzing 26 independent markets with a total of 280 participants we show that binary lottery choices and certainty equivalents are poorly correlated. Only lottery choices are related to market behavior: the higher the degree of risk aversion the lower the observed market activity. Females are more risk averse than males according to binary lotteries, submit fewer offers and engage less often in trades

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Year of publication:	2003
Authors:	Fellner-Röhling, Gerlinde ; Maciejovsky, Boris
Publisher:	[S.l.] : SSRN
Subject:	Experiment \| Theorie \| Theory \| Risikopräferenz \| Risk attitude \| Anlageverhalten \| Behavioural finance \| Geschlecht \| Gender \| Entscheidung \| Decision \| Glücksspiel \| Gambling

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Extent:	1 Online-Ressource (26 p)
Type of publication:	Book / Working Paper
Language:	English
Notes:	Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments September 2002 erstellt
Other identifiers:	10.2139/ssrn.390105 [DOI]
Classification:	C91 - Laboratory, Individual Behavior ; C92 - Laboratory; Group Behavior ; D40 - Market Structure and Pricing. General ; D80 - Information and Uncertainty. General ; G10 - General Financial Markets. General
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10014087733