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Using representative US investor data, we investigate whether automated financial advisors, also referred to as robo-advisors, reduce investors' demand for human financial advice offered by financial service providers. Our results provide a strong negative relationship between using...
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Investing through online automated platforms, known as robo-advisors, is increasingly popular. Robo-advisors expand access to wealth management services by making it easier and less costly to open investments accounts and receive financial advice, as well as plan and automate investment...
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Investors increasingly can obtain assistance from "robo-advisors," artificial intelligence - enabled digitalized service agents imbued with anthropomorphic design elements that can communicate using natural language. The present article considers the impact of anthropomorphized robo-advisors on...
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In this paper, we use the Wall Street Journal poll of FX forecasts to analyze how the group of forecasters form their expectations. One focus is whether forecasters build rational expectations. Furthermore, we analyze whether the group of forecasters can be regarded as homogeneous or...
Persistent link: https://www.econbiz.de/10010296155
Anforderungen für die Anlageberatung der Kreditinstitute schon heute bestehen. Dabei ist in den letzten zwanzig Jahren eine stetige … Bond-Urteil von 1993 sowie die Einführung des Wertpapierhandelsgesetzes 1994, welche die Bedeutung der Anlageberatung nicht … Anlageberatung wird auch in der neuen Richtlinie zur Ablösung der ertpapierdienstleistungsrichtlinie von 1993 Rechnung getragen …
Persistent link: https://www.econbiz.de/10010297093
Im Oktober 1998 befragte das ZEW rund 250 Finanzexperten aus Banken, Versicherungen, Kapitalanlagegesellschaften und großen Industrieunternehmen nach ihren Empfehlungen zur Gestaltung eines Vermögensportfolios zur Altersvorsorge. Dieses Papier untersucht in einem ersten Schritt, ob in...
Persistent link: https://www.econbiz.de/10010297619
According to the prospect theory financial investors tend to sell winners too early and ride losers too long. Therefore, demand for financial advise should be high in a bull market and low in a bear market. Thus, we test the hypothesis whether the demand for business magazines is somehow related...
Persistent link: https://www.econbiz.de/10010297729