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Myopic loss aversion, disappointment aversion, and the equity premium puzzle

Fielding, David; Stracca, Livio - 2003

paper is that a highly short-sighted investment horizon is required for the historical equity premium to be explained by … loss aversion, while reasonable values for disappointment aversion are found also for long investment horizons. So, stocks …

Persistent link: https://www.econbiz.de/10011604249

The curse of knowledge increases self-selection into competition: Experimental evidence

Danz, David - 2014

-informed others. This paper presents a controlled experiment showing that this "curse of knowledge" can cause comparative …

Persistent link: https://www.econbiz.de/10010397879

Negotiation under the curse of knowledge

Pierrot, Thibaud - 2019

negotiation situations. We report the results of a laboratory experiment that was designed to isolate the effect of the curse of …

Persistent link: https://www.econbiz.de/10012141849

Model misspecification, the equilibrium natural interest rate and the equity premium

Tristani, Oreste - 2007

This paper analyses the determinants of the natural rate of interest in a non-linear model where agents are uncertain over both future technology growth and the future course of monetary policy. I show that the real natural rate can be affected by sizable uncertainty premia, including premia...

Persistent link: https://www.econbiz.de/10011604854

Aggregation and convergence in experimental general equilibrium economies constructed from naturally occurring preferences

Crockett, Sean; Friedman, Daniel; Oprea, Ryan - 2017

Prior laboratory experiments have studied general equilibrium economies constructed from "induced preferences" for artificial goods. We introduce new methods that allow us to study economies constructed instead from subjects' actual, "homegrown" preferences. Our subjects reveal their preferences...

Persistent link: https://www.econbiz.de/10011763083

Geographic versus industry diversification: constraints matter

Ehling, Paul; Ramos, Sofia Brito - 2005

This research addresses whether geographic diversification provides benefits over industry diversification. In the absence of constraints, no empirical evidence is found to support the argument that country diversification is superior. With short-selling constraints, however, the geographic...

Persistent link: https://www.econbiz.de/10011604471

Political referenda and investment: Evidence from Scotland

Azqueta-Gavaldon, Andres - 2020

We present evidence that referenda have a significant, detrimental outcome on investment. Employing an unsupervised … policy-related uncertainty. Examining the relationship of these indices with investment on a longitudinal panel of 3 … uncertainty to investment. Our preferred specification suggests that a one standarddeviation increase in Brexit uncertainty …

Persistent link: https://www.econbiz.de/10012422065

Everyday econometricians: Selection neglect and overoptimism when learning from others

Barron, Kai; Huck, Steffen; Jehiel, Philippe - 2019

In this paper, we design an investment game which allows us to study the influence of selection when learning from … others. Using the theoretical study of selection neglect in Jehiel (2018) as a guide, we test (i) for the presence of … selection neglect in this investment context, and (ii) some comparative static predictions of the model. We find strong evidence …

Persistent link: https://www.econbiz.de/10011984926

Home bias in global bond and equity markets: the role of real exchange rate volatility

Fidora, Michael; Fratzscher, Marcel; Thimann, Christian - 2006

This paper focuses on the role of real exchange rate volatility as a driver of portfolio home bias, and in particular as an explanation for differences in home bias across financial assets. We present a Markowitz-type portfolio selection model in which real exchange rate volatility induces a...

Persistent link: https://www.econbiz.de/10011604731

Money talks

Hoerova, Marie; Monnet, Cyril; Temzelides, Ted - 2009

We study credible information transmission by a benevolent Central Bank. We consider two possibilities: direct revelation through an announcement, versus indirect information transmission through monetary policy. These two ways of transmitting information have very different consequences. Since...

Persistent link: https://www.econbiz.de/10011605137

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