Showing 1 - 10 of 40
We extend gender research on risk behavior to betting markets. Our data set consists of all 5,136,660 bets in New Zealand from 2006 to 2009 and allows assigning each bet to individ-ual bettors. Women are much more prone to the favorite-longshot bias and suffer higher losses. Usually, betting on...
Persistent link: https://www.econbiz.de/10010984922
This paper empirically investigates distributional and welfare effects of Germany's year 2000 tax reform. The reform is simulated in an ex-ante behavioral microsimulation approach. Dead weight loss of capital income taxation is estimated in a structural model for household savings and asset...
Persistent link: https://www.econbiz.de/10010957290
This paper sheds new light on the impact of information risk and market stress on herding of institutional traders from both, a theoretical and an empirical perspective. Using numerical simulations of a herd model, we show that buy and sell herding intensity should increase with information...
Persistent link: https://www.econbiz.de/10010957998
The determinants of portfolio choice have been studied extensively in the field of household finance. In this paper we study the determinants of the decision to hold risky assets based on a novel dataset of German bank data. Our primary focus is the question whether East Germans di er in their...
Persistent link: https://www.econbiz.de/10011212435
Much empirical research in economics is based on data from household surveys. Panel surveys are particularly valuable for understanding dynamics and heterogeneity. A possible concern with panel surveys is that survey participation itself may alter subsequent behavior. We provide novel evidence...
Persistent link: https://www.econbiz.de/10011163934
To counteract aging populations, statutory pay-as-you-go pension systems are subject to fundamental reforms in many Western societies. Starting with cohort 1937, Germany introduced permanent pension deductions for early retirement. This paper examines the evolution of the profitability of...
Persistent link: https://www.econbiz.de/10011163993
Our study aims to uncover the roots of financial literacy. Better financial literacy predicts more informed savings and borrowing decisions in our sample, covering the urban middle-class in an emerging economy. We then test education at school, family background, parental teaching, and childhood...
Persistent link: https://www.econbiz.de/10011164000
We use the German re-unification as a natural experiment to understand drivers of financial literacy accumulation. With the transformation from a planned to a market-based economy in 1990, the incentives to invest in financial literacy were changed exogenously for East Germans and remained the...
Persistent link: https://www.econbiz.de/10011164134
We analyze whether the frequent use of credit lines is rational or influenced by behavioral traits of households. We consider the special case of Germany where credit lines on current accounts are available to 80% of the population. We document that the excessive usage of costly credit lines is...
Persistent link: https://www.econbiz.de/10011164151
This research challenges the stylized fact of a gender gap in financial literacy, i.e. the finding that women lag behind men in this respect. Our data which samples middle-class people from Bangkok does not show a gender gap, neither in regards to financial literacy nor regarding various kinds...
Persistent link: https://www.econbiz.de/10011164164