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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/10011653256
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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/10011873541
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Groupthink: Collective delusions in organizations and markets
Bénabou, Roland - 2013
This paper investigates collective denial and willful blindness in groups, organizations and markets. Agents with anticipatory preferences, linked through an interaction structure, choose how to interpret and recall public signals about future prospects. Wishful thinking (denial of bad news) is...
Persistent link: https://www.econbiz.de/10010293122
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Groupthink: Collective Delusions in Organizations and Markets
Benabou, Roland - Institute for the Study of Labor (IZA) - 2013
This paper investigates collective denial and willful blindness in groups, organizations and markets. Agents with anticipatory preferences, linked through an interaction structure, choose how to interpret and recall public signals about future prospects. Wishful thinking (denial of bad news) is...
Persistent link: https://www.econbiz.de/10010704406
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Gender differences in risk aversion and ambiguity aversion
Borghans, Lex; Golsteyn, Bart H. H.; Heckman, James Joseph - 2009
This paper demonstrates gender differences in risk aversion and ambiguity aversion. It also contributes to a growing …
Persistent link: https://www.econbiz.de/10010274253
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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/10010282544
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Social ties and subjective performance evaluations: An empirical investigation
Breuer, Kathrin; Nieken, Petra; Sliwka, Dirk - 2010
We empirically investigate possible distortions in subjective performance evaluations. A key hypothesis is that evaluations are more upward biased the closer the social ties between supervisor and appraised employee. We test this hypothesis with a company data set from a call center organization...
Persistent link: https://www.econbiz.de/10010269802
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Explaining the favorite-longshot bias: Is it risk-love or misperceptions?
Snowberg, Erik; Wolfers, Justin - 2010
The favorite-longshot bias describes the longstanding empirical regularity that betting odds provide biased estimates … misperceptions of probability drive the favorite-longshot bias, as suggested by Prospect Theory. …
Persistent link: https://www.econbiz.de/10010269869
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Overconfidence is a social signaling bias
Burks, Stephen V.; Carpenter, Jeffrey P.; Goette, Lorenz; … - 2010
the desire to send positive signals to others about one's own skill; this suggests a either a bias in judgment, strategic …
Persistent link: https://www.econbiz.de/10010269888
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The ratio bias phenomenon: fact or artifact?
Lefèbvre, 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/10010277022