illusion of control. By forming their portfolio of tworisky lotteries and one risk-less alternative, subjects are requested to … investment. Also, offering adefault portfolio strongly determines final allocations. …

We study time preferences in a real-effort experiment with a one-month horizon. We report thattwo thirds of choices …

In this paper we relate individual risk attitude as elicited by binary lotteriesand certainty equivalents to market … equivalents are poorly correlated. Only lottery choices are relatedto market behavior: the higher the degree of risk aversion the … lower theobserved market activity. Females are more risk averse than males accordingto binary lotteries, submit fewer offers …

We examine in an experiment the causes, consequences and possible cures ofmyopic loss aversion (MLA) for investment … behaviour under risk. We find thatboth, investment horizons and feedback frequency contribute almost equally tothe effects of … MLA. Longer investment horizons and less frequent feedbacklead to higher investments. However, when given the choice …

We experimentally test overconfidence in investment decisions by offering participants the possibility to substitute … their own for alternative investment choices.Overall, 149 subjects participated in two experiments, one with just one risky …

more in such stocks”. We conducted an experimentin Jena, Germany to test whether subjects show local bias and use … familiar but not local stocks. Our experiment showsno evidence that familiarity is a reason for local bias. …

How do people make investment decisions when they receive outcome feedback? We examinedhow well the standard mean … risk and covariance of the investments into account. The experimental results illustrate thatpeople reacted sensitively to … different correlation structures of the investment alternatives, whichwas best predicted by the extended reinforcement model …

-based questionnaire before the experiment and participants’ preferences for resolution timing, risk, and time were incentive compatibly … measured during the experiment. Main findings are that delayed resolution can affect investment, that the effect depends on the …This experimental study is concerned with the impact of the timing of the resolution of risk on people’s willingness to …

model based on cognitive dissonance thatfocuses on the importance of self-image. An experiment (a dictator game variant …