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Heterogeneity of Investors and Asset Pricing in a Risk-Value World

Franke, Günter; Weber, Martin - Universität <Mannheim> / Lehrstuhl für Allgemeine … - 2002

Portfolio choice and the implied asset pricing are usually derived assumingmaximization of expected utility. In this Paper, they are derived from risk-value models that generalize the Markowitz-model. We use a behaviourally-based risk measure with an endogenous or exogenous benchmark...

Persistent link: https://www.econbiz.de/10005844820

Overconfidence in Investment Decisions: An Experimental Approach

Dittrich, Dennis; Güth, Werner; Maciejovsky, Boris - 2001

In this paper the authors experimentally test overconfidence in investment decisions by ordering participants the possibility to substitute their own for alternative investment choices.

Persistent link: https://www.econbiz.de/10005845213

Let Me See You! A Video Experiment on the SocialDimension of Risk Preferences

Güth, Werner; Levati, M.Vittoria; Ploner, Matteo - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2007

Previous studies have shown that decision makers are less other-regardingwhen their own payoff is risky than when it is …

Persistent link: https://www.econbiz.de/10005866632

Satisficing or Optimizing?An Experimental Study

Fellner, Gerlinde; Güth, Werner; Martin, Ev - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2006

theoretical approach, namelysatisficing or optimality, applicable. Then, they are guided throughthe decision making process where … measured by the adjustments of personal parametersuntil accepting the investment decision suggested by theory.Additionally, a …

Persistent link: https://www.econbiz.de/10005866712

Overconfidence in Investment Decisions:An Experimental Approach

Dittrich, Dennis; Güth, Werner; Maciejovsky, Boris - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2001

We experimentally test overconfidence in investment decisions by offering participants the possibility to substitute their own for alternative investment choices.Overall, 149 subjects participated in two experiments, one with just one risky asset, the other with two risky assets. Overconfidence...

Persistent link: https://www.econbiz.de/10005867326

Overconfidence in investment decisions : an experimental approach

Dittrich, Dennis; Güth, Werner; Maciejovsky, Boris - 2001

We experimentally test overconfidence in investment decisions by offering participants the possibility to substitute their own for alternative investment choices. Overall, 149 subjects participated in two experiments, one with just one risky asset, the other with two risky assets. Overconfidence...

Persistent link: https://www.econbiz.de/10011408444