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Is local bias a cross-border phenomenon? : evidence from individual investors’ international asset allocation
Baltzer, Markus; Stolper, Oscar; Walter, Andreas - 2013
stocks (local bias). We hypothesize that individual investors’ local bias is not limited to the domestic sphere but instead … also determines their international investment decisions. Our results confirm the presence of a cross-border local bias … display a significantly lower foreign investment bias towards investment opportunities in that country and (ii) that this drop …
Persistent link: https://www.econbiz.de/10009740268
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The endowment effect in the general population
Fehr, Dietmar; Kübler, Dorothea - 2022
We study the endowment effect and expectation-based reference points in the field leveraging the setup of the Socio-Economic Panel. Households receive a small item for taking part in the panel, and we randomly assign respondents either a towel or a notebook, which they can exchange at the end of...
Persistent link: https://www.econbiz.de/10014476660
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Active learning improves financial education : experimental evidence
Kaiser, Tim; Menkhoff, Lukas - 2018
We conduct a randomized field experiment to study the effects of two financial education interventions offered to small …
Persistent link: https://www.econbiz.de/10011975912
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Everyday econometricians : selection neglect and overoptimism when learning from others
Barron, Kai; Huck, Steffen; Jehiel, Philippe - 2019
degree of bias due to selection neglect increases when other decision makers become more informed, or become more rational …
Persistent link: https://www.econbiz.de/10011982107
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It's not my fault! : self-confidence and experimentation
Hestermann, Nina; Le Yaouanq, Yves - 2018 - Current draft: October 8, 2018
external factors if they fail. They are too easily dissatisfied with their environment, which leads them to experiment in …
Persistent link: https://www.econbiz.de/10011930663
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Behavioral biases in marketing
Guhl, Daniel; Klapper, Daniel; Massner, Katharina; … - 2017
Psychology and economics (the mixture of which is known as behavioral economics) are two fundamental disciplines underlying marketing. Various marketing studies document the non-rational behavior of consumers, even though behavioral biases might not always be consistently termed or formally...
Persistent link: https://www.econbiz.de/10011762602
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Banks' holdings of risky sovereign bonds in the absence of the nexus : yield seeking with central bank funding or de-risking?
Frey, Rainer; Weth, Mark - 2010
For the largest 55 German banks, we detect the presence of countercyclical yield seeking in the form of acquisition of high-yielding periphery bonds in the period from Q1 2008 to Q2 2011. This investment strategy is pursued by banks not subject to a bailout, banks characterised by high...
Persistent link: https://www.econbiz.de/10012014102
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Moral suasion in regional government bond markets
Ohls, Jana - 2017
In the context of the German regional government bond market, this paper studies the hypothesis that governments use moral suasion to persuade home government-owned banks to hold more home government debt. The empirical approach makes use of German banks' ownership structure, heterogeneity in...
Persistent link: https://www.econbiz.de/10011755947
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Asset prices and alternative characterizations of the pricing kernel
Lüders, Erik - 2002
In a continuous-time representative investor economy with an exogenously given information process, asset prices are derived for alternative characterizations of the pricing kernel. In addition to the characterization of forward prices in a general representative investor economy a detailed...
Persistent link: https://www.econbiz.de/10013428466
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Is distance dying at last? : falling home bias in fixed effects models of patent citations
Griffith, Rachel (contributor); Lee, Sokbae (contributor);  … - 2007
Persistent link: https://www.econbiz.de/10003519929