Narrow search
Showing 1 - 10 of 71
Cover Image
Illusion of Expertise in Portfolio Decisions:An Experimental Approach
Fellner, Gerlinde; Güth, Werner; Maciejovsky, Boris - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2001
This paper focuses on egocentric biases in financial decisions. Subjects first designa portfolio, whereby each combination of assets yields the same expected returnand variance of returns. They are then confronted with two alternative portfolios;the average portfolio and the portfolio of one’s...
Persistent link: https://www.econbiz.de/10005867327
Cover Image
Illusion of control as a source of poor diversification: Anexperimental approach
Fellner, Gerlinde - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2004
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. …
Persistent link: https://www.econbiz.de/10005866777
Cover Image
Risk Attitude and Market Behavior:Evidence from Experimental Asset Markets
Fellner, Gerlinde; Maciejovsky, Boris - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2002
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 …
Persistent link: https://www.econbiz.de/10005867015
Cover Image
Overconfidence in Investment Decisions:An Experimental Approach
Dittrich, Dennis; Güth, Werner; Maciejovsky, Boris - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2001
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 …
Persistent link: https://www.econbiz.de/10005867326
Cover Image
Framing Effects, Selective Information andMarket Behavior An Experimental Analysis
Kirchler, Erich; Maciejovsky, Boris; Weber, Martin - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2004
The results of an asset market experiment, in which 64 subjects trade two assets oneight markets in a computerized …
Persistent link: https://www.econbiz.de/10005866816
Cover Image
Are preferences complete?An experimental measurement of indecisivenessunder risk
Danan, Eric; Ziegelmeyer, Anthony - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2006
We propose an experimental design allowing a behavioral test of the axiom ofcompleteness of individual preferences. The … preferences are significantly incomplete. We use lotteries as choice alternatives and we find that risk aversion is globally …
Persistent link: https://www.econbiz.de/10005866755
Cover Image
THE EQUITY HOME BIAS: CONTRASTING AN INSTITUTIONAL WITH A BEHAVIORAL EXPLANATION
Fellner, Gerlinde; Maciejovsky, Boris - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2003
An empirically well-established finding is that equity portfolios are concentratedin the domestic equity market of the investor. Previous theoreticaland empirical analyses have mainly focused on institutional explanations andlargely neglected individual behavior. In this study we report the...
Persistent link: https://www.econbiz.de/10005866979
Cover Image
Satisficing or Optimizing?An Experimental Study
Fellner, Gerlinde; Güth, Werner; Martin, Ev - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2006
measured by the adjustments of personal parametersuntil accepting the investment decision suggested by theory.Additionally, a …
Persistent link: https://www.econbiz.de/10005866712
Cover Image
Is Satisficing Absorbable?An Experimental Study
Güth, Werner; Levati, M. Vittoria; Ploner, Matteo - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2006
We experimentally investigate whether the satisficing approach isabsorbable, i.e., whether it still applies after participants become awareof it. In a setting where an investor decides between a riskless bondand either one or two risky assets, we familiarize participants with thesatisficing...
Persistent link: https://www.econbiz.de/10005866714
Cover Image
Task Transcending Satisficing - An Experimental Study
Fellner, Gerlinde; Güth, Werner; Martin, Ev - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2006
The paper explores the applicability of the satisficing approach. Inparticular, we investigate whether basic principles of aspiration formationand satisficing behavior are transferable between similar situations.Individuals are sequentially confronted with two risky investmenttasks, a simple and...
Persistent link: https://www.econbiz.de/10005866716