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Household financial resilience is related to the availability of financial resources but also to the ability to … risks, which could affect the future financial situation of their own household (treatment) or of a household with similar … asked for their own household compared to a similar household - confirming overplacement bias in the context of financial …
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It has long been recognized that there is considerable heterogeneity in individual risk taking behavior but little is known about the distribution of risk taking types. We present a parsimonious characterization of risk taking behavior by estimating a finite mixture regression model for three...
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This study compares the performance of Prospect Theory versus Stochastic Expected Utility Theory at fitting data on decision making under risk. Both theories incorporate well-known deviations from Expected Utility Maximization such as the Allais paradox or the fourfold pattern of risk attitudes....
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correlated in most villages with portfolio-choice estimates. The heterogeneity matters for policy: Although the average household …
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. Leveraging a unique representative household finance survey for the Austrian population, we examine whether investors' ESG …
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