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. This could be the result of a bias caused by standard estimation error. Using German social security records we show that … the effect of this bias is substantial in samples with limited inter-firm movement. The correlation between worker and … ; limited mobility bias …
Persistent link: https://www.econbiz.de/10009550579
Persistent link: https://www.econbiz.de/10001744080
The belief that home ownership makes people happy is probably one of the most widespread intuitive theories of happiness. However, whether it is accurate is an open question. Based on individual panel data, we explore whether home buyers systematically overestimate the life satisfaction...
Persistent link: https://www.econbiz.de/10012254078
We propose a new Sharpe ratio index obtained from return and volatility spillover indices to individual assets from the whole financial system. We use our new approach to shed light on a new perspective on a hot topic examining the safe-haven assets after Covid-19. To do that, we compare both...
Persistent link: https://www.econbiz.de/10012705552
We show that household heads with a strong internal economic locus of control are more likely to hold equity and hold a larger share of equity in their investment portfolio. This relation holds when we control for economic preferences and possible confounders such as financial literacy,...
Persistent link: https://www.econbiz.de/10011594548
growth bias, has been linked to household financial decision making. We show that exponential growth bias and standard … bias and household finance without adequate controls for financial literacy may generate biased results. -- exponential … growth bias ; financial literacy ; household finance …
Persistent link: https://www.econbiz.de/10009310180
We examine how emerging market (EM) investors allocate their stock portfolios internationally. Using both country-level and institution-level data, we find that the coming wave of EM investors systematically over- and under-weight their holdings in some target countries. These abnormal foreign...
Persistent link: https://www.econbiz.de/10011347171
-growth bias (EGB) and present bias (PB). We find that EGB, the tendency to neglect compounding, and PB, the tendency to value the …
Persistent link: https://www.econbiz.de/10011902764
We ran a field experiment to investigate whether nudge policies, consisting in behavioural insight messaging, help to improve performance in financial trading. Our experiment involved students enrolled in a financial trading course in an Italian University who were invited to trade on Borsa...
Persistent link: https://www.econbiz.de/10011731904
A long-standing puzzle is how overconfidence can persist in settings characterized by repeated feedback. This paper studies managers who participate repeatedly in a high-powered tournament incentive system, learning relative performance each time. Using reduced form and structural methods we...
Persistent link: https://www.econbiz.de/10014311540