Similar Search Results

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

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

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

Causes, consequences, and cures of myopic loss aversion –An experimental investigation

Fellner, Gerlinde; Sutter, Matthias - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2008

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 …

Persistent link: https://www.econbiz.de/10005866463

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

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

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

When the past is present – The ratchet effectin the local commons

Fellner, Gerlinde; Margreiter, Magdalena; Oses Eraso, Nuria - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2003

In this paper we investigate the effects of local interaction in a CPR-like environment.We employ a local interaction model where subjects are allocated alonga circle and only interact with their most direct neighbors. In traditional socialdilemma experiments, the return of one’s actions is...

Persistent link: https://www.econbiz.de/10005866905

Partner Selection in Public Goods Experiments

Coricelli, Giorgio; Fehr, Dietmar; Fellner, Gerlinde - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2003

This paper studies the effect of introducing costly partner selection for the voluntarycontribution to a public good. Subjects participate in six sequences offive rounds of a two-person public good game in partner design. At the end ofeach sequence, subjects can select a new partner out of six...

Persistent link: https://www.econbiz.de/10005866964

What Limits Emotional Escalation? – VaryingThreat Power in an Ultimatum Experiment

Fellner, Gerlinde; Güth, Werner - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2002

Threat power is the ability to impose a great loss on someone else at relativelylow own cost and can be measured by the ratio of other’s and own loss. It can bevaried by assuming that rejecting an ultimatum reduces the payoff of the proposerto its lambda–share and that of the responder to...

Persistent link: https://www.econbiz.de/10005867105