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Overconfidence and the political and financial behavior of a representative sample
Ahrens, Steffen; Bosch-Rosa, Ciril; Kassner, Bernhard - 2021
We study the relationship between overconfidence and the political and financial behavior of a nationally … representative sample. To do so, we introduce a new method of eliciting overconfidence that is simple to understand, quick to … price forecasting errors, and more extreme political views. Additionally, we find that overconfidence is correlated with …
Persistent link: https://www.econbiz.de/10012648019
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Price dynamics and trader overconfidence
Ahrens, Steffen; Bosch-Rosa, Ciril - 2019
Overconfidence is one of the most important biases in financial markets and commonly associated with excessive trading … and asset market bubbles. So far, most of the finance literature takes overconfidence as a given, "static" personality … trait. In this paper we introduce a novel experimental design which allows us to track different measures of overconfidence …
Persistent link: https://www.econbiz.de/10012034133
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Overconfidence and the political and financial behavior of a representative sample
Ahrens, Steffen; Bosch-Rosa, Ciril; Kassner, Bernhard - 2021
We study the relationship between overconfidence and the political and financial behavior of a nationally … representative sample. To do so, we introduce a new method of eliciting overconfidence that is simple to understand, quick to … price forecasting errors, and more extreme political views. Additionally, we find that overconfidence is correlated with …
Persistent link: https://www.econbiz.de/10012653508
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Price dynamics and trader overconfidence
Ahrens, Steffen; Bosch-Rosa, Ciril; Roulund, Rasmus - 2019
Overconfidence is one of the most important biases in financial markets and commonly associated with excessive trading … and asset market bubbles. So far, most of the finance literature takes overconfidence as a given, "static" personality … trait. In this paper we introduce a novel experimental design which allows us to track different measures of overconfidence …
Persistent link: https://www.econbiz.de/10012141867
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A theory of price adjustment under loss aversion
Ahrens, Steffen; Pirschel, Inske; Snower, Dennis J. - 2014
We present a new partial equilibrium theory of price adjustment, based on consumer loss aversion. In line with prospect theory, the consumers' perceived utility losses from price increases are weighted more heavily than the perceived utility gains from price decreases of equal magnitude. Price...
Persistent link: https://www.econbiz.de/10010336108
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A theory of price adjustment under loss aversion
Ahrens, Steffen; Pirschel, Inske; Snower, Dennis J. - 2014
We present a new partial equilibrium theory of price adjustment, based on consumer loss aversion. In line with prospect theory, the consumers' perceived utility losses from price increases are weighted more heavily than the perceived utility gains from price decreases of equal magnitude. Price...
Persistent link: https://www.econbiz.de/10010336110
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A Theory of Price Adjustment under Loss Aversion
Ahrens, Steffen; Pirschel, Inske; Snower, Dennis J. - 2014
We present a new partial equilibrium theory of price adjustment, based on consumer loss aversion. In line with prospect theory, the consumers' perceived utility losses from price increases are weighted more heavily than the perceived utility gains from price decreases of equal magnitude. Price...
Persistent link: https://www.econbiz.de/10010352312
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Coordination under loss contracts
Ahrens, Steffen; Bitter, Lea; Bosch-Rosa, Ciril - 2020
In this paper we study the effects that loss contracts - prepayments that can be clawbacked later - have on group coordination when there is strategic uncertainty. We compare the choices made by experimental subjects in a minimum effort game. In control sessions, incentives are formulated as a...
Persistent link: https://www.econbiz.de/10012290029
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A Theory of Price Adjustment under Loss Aversion
Ahrens, Steffen; Pirschel, Inske; Snower, Dennis J. - In: Journal of Economic Behavior & Organization 134 (2017), pp. 78-95
We present a new partial equilibrium theory of price adjustment, based on consumer loss aversion. In line with prospect theory, the consumers’ perceived utility losses from price increases are weighted more heavily than the perceived utility gains from price decreases of equal magnitude. Price...
Persistent link: https://www.econbiz.de/10013327009
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A Theory of Price Adjustment under Loss Aversion
Ahrens, Steffen; Pirschel, Inske; Snower, Dennis J. - 2014
We present a new partial equilibrium theory of price adjustment, based on consumer loss aversion. In line with prospect theory, the consumers' perceived utility losses from price increases are weighted more heavily than the perceived utility gains from price decreases of equal magnitude. Price...
Persistent link: https://www.econbiz.de/10010398564