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Locus of control and consistent investment choices
Pinger, Pia; Schäfer, Sebastian; Schumacher, Heiner - 2018
We document that an internal locus of control can be hindering in financial market situations, where short-term outcomes are determined by chance. The reason is that internally controlled individuals may tend to (over-)react to random outcomes. Our evidence is based on an experiment in which...
Persistent link: https://www.econbiz.de/10011865329
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Household portfolio choice, reference dependence, and the marriage market
Li, Wenchao; Song, Changcheng; Xu, Shu; Yi, Junjian - 2017
This paper bridges the financial market and the marriage market using a reference-dependent mechanism. Male-biased sex ratios induce families with sons to hold more risky assets, since competitive marital payment in a tight market raises the reference level of marriage expenditure for such...
Persistent link: https://www.econbiz.de/10011607605
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Skewness expectations and portfolio choice
Drerup, Tilman H.; Wibral, Matthias; Zimpelmann, Christian - 2022
Many models of investor behavior predict that investors prefer assets that they believe to have positively skewed return distributions. We provide a direct test of this prediction in a representative sample of the Dutch population. Using individual-level data on return expectations for a broad...
Persistent link: https://www.econbiz.de/10012805556
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Household finances and the "Big Five" personality traits
Brown, Sarah; Taylor, Karl - 2011
We explore the relationship between household finances and personality traits from an empirical perspective. Specifically, using individual level data drawn from the British Household Panel Survey, we analyse the influence of personality traits on financial decision-making at the individual...
Persistent link: https://www.econbiz.de/10009523523
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Endogenous schooling and the distribution of the gender wage gap
Hansen, Jörgen; Wahlberg, Roger - 1999
estimates for a number of reasons. Consequently, if we neglect this potential bias in OLS when estimating the gender wage gap …Previous studies on gender wage discrimination have relied on OLS when estimating the wage equations. However, there … find overwhelming evidence that OLS seriously overestimate the unexplained gender wage gap. …
Persistent link: https://www.econbiz.de/10011316913
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Trust and the choice between housing and financial assets : evidence from Spanish households
Attar, Mayssun el; Poschke, Markus - 2010
Trusting behavior has been shown to affect households' portfolio choice between risky and risk-free financial assets. We extend the analysis of the effect of trust on portfolio choice to include the dominant component of households' portfolios, real estate. In a simple model, we show how the...
Persistent link: https://www.econbiz.de/10009153590
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Locus of control and investment in risky assets
Salamanca, Nicolás; Grip, Andries de; Fouarge, Didier; … - 2016
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
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Sexual bias and household consumption : a semiparametric analysis of Engel curves in rural China
Gong, Xiaodong; Soest, Arthur van; Zhang, Ping - 2000
?consumption expenditure patterns. We find some differences in consumption patterns which relate to differences in gender of … children, which can be seen as evidence of sexual bias related to a commonly believed existing preference for boys. …
Persistent link: https://www.econbiz.de/10011339086
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Locus of control and savings
Cobb-Clark, Deborah A.; New, Sonja C. de; Sinning, Mathias - 2013
This paper analyzes the relationship between individuals' locus of control and their savings behavior, i.e. wealth accumulation, savings rates, and portfolio choices. Locus of control is a psychological concept that captures individuals' beliefs about the controllability of life events and is a...
Persistent link: https://www.econbiz.de/10010228778
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The ratio bias phenomenon : fact or artifact?
Lefebvre, Mathieu; Vieider, Ferdinand M.; Villeval, … - 2009
The ratio bias - according to which individuals prefer to bet on probabilities expressed as a ratio of large numbers to … researchers especially in health economics emphasizing the policy importance of the phenomenon. Although the bias has been … replicated several times, some doubts remain about its economic significance. Our two experiments show that the bias disappears …
Persistent link: https://www.econbiz.de/10003910098