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Recognition-Based and Familiarity-Based PortfolioStrategies – An Experimental Study
Diao, Linan - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2011
recognition-based andfamiliarity-based portfolio strategies. We categorized them into an experienced and aninexperienced group; in …
Persistent link: https://www.econbiz.de/10009248893
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Reinforcement Learning in Repeated Portfolio Decisions
Diao, Linan; Rieskamp, Jörg - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2011
process that relies solelyon the portfolio’s overall return, whereas the proposed extended reinforcement model also takesthe …
Persistent link: https://www.econbiz.de/10009248894
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Do investors optimize, follow heuristics, or listen toexperts?
Gehring, Thomas; Güth, Werner; Levinsky, Rene; Popova, Vera - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2008
stable and equilibrium (Blume andEasley, 1992) portfolio for this situation requires to distribute funds accordingto the …
Persistent link: https://www.econbiz.de/10005866439
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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...
Persistent link: https://www.econbiz.de/10005866463
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A Note on Skewness Seeking:An Experimental Analysis
Brünner, Tobias; Levinsky, Rene; Qiu, Jianying - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2007
In this paper we experimentally test skewness seeking at the individuallevel. Several prospects that can be ordered with respect to the third-degreestochastic dominance (3SD) criterion are ranked by the participants of theexperiment. We find that the skewness of a distribution has a...
Persistent link: https://www.econbiz.de/10005866533
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Satisficing in Portfolio Selection - Theoretical Aspects and Experimental Tests
Gürth, Werner - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2006
adjustment, is formally elaborated for a specificclass of portfolio selection tasks. It is partly poorly confirmed by …
Persistent link: https://www.econbiz.de/10005866703
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Anspruchserfüllung und Portfolioauswahl - Theoretische Diskussion und experimentelle Evidenz
Güth, Werner - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2006
Das Anspruchserfüllungskonzept mit seinen Bausteinen "Anspruchsbildung, Anspruchserfüllung und Anspruchsanpassung" ist die zentrale Idee in der Theorie des eingeschränkten rationalen Entscheidens. Ähnlich wie die Rationalwahltheorie, die ohne kühne Einschränkungen, zum Beispiel der...
Persistent link: https://www.econbiz.de/10005866706
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Is Satisficing Absorbable?An Experimental Study
Güth, Werner; Levati, M. Vittoria; Ploner, Matteo - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2006
, we familiarize participants with thesatisficing calculus applied to specific portfolio selection tasks. Afterexperiencing … this calculus repeatedly, participants are free to use it orto select their portfolio freely. The results support, to some …
Persistent link: https://www.econbiz.de/10005866714
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Task Transcending Satisficing - An Experimental Study
Fellner, Gerlinde; Güth, Werner; Martin, Ev - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2006
used to predict actual portfolio selectionin both tasks. We explore whether individual characteristics of satisficingapply …
Persistent link: https://www.econbiz.de/10005866716
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Illusion of control as a source of poor diversification: Anexperimental approach
Fellner, Gerlinde - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2004
This paper investigates factors influencing individual portfolio allocations withparticular focus on the role of … 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