Showing 1 - 10 of 32
Global agierende Publikumsgesellschaften werden zunehmend mit dem spezifischen Verhalteneiner kulturell diversen Investorenöffentlichkeit konfrontiert. Vor diesem Hintergrundwerden in vorliegender Publikation entsprechende Hypothesen in Bezug auf ausgewähltekulturell bedingte Probleme an der...
Persistent link: https://www.econbiz.de/10005864358
We examine in an experiment the causes, consequences and possible cures ofmyopic loss aversion (MLA) for investment behaviour under risk. We find thatboth, investment horizons and feedback frequency contribute almost equally tothe effects of MLA. Longer investment horizons and less frequent...
Persistent link: https://www.econbiz.de/10005866463
We use a two-person linear voluntary contribution mechanism with stochastic marginal benefits from the public good to examine the effect of imperfect information on contributions levels. To assess prior risk attitudes, individual valuations of several risky prospects are elicited via a...
Persistent link: https://www.econbiz.de/10005866650
This paper reports results of an experiment designed to analyze the link between riskydecisions made by couples and risky decisions made separately by each spouse. We estimateboth the spouses and the couples’ degrees of risk aversion and we assess how the risk preferencesof the two spouses...
Persistent link: https://www.econbiz.de/10005866693
This paper investigates factors influencing individual portfolio allocations withparticular focus on the role of illusion of control. By forming their portfolio of tworisky lotteries and one risk-less alternative, subjects are requested to reach a targetinvestment profit, whereby equal...
Persistent link: https://www.econbiz.de/10005866777
The results of an asset market experiment, in which 64 subjects trade two assets oneight markets in a computerized continuous double auction, indicate that objectivelyirrelevant information influences trading behavior. Moreover, positively and negativelyframed information leads to a particular...
Persistent link: https://www.econbiz.de/10005866816
Myopic loss aversion (MLA) has been established as one prominentexplanation for the equity premium puzzle. In this paper we address two issuesrelated to the effects of MLA on risky investment decisions. First, we assess therelative impact of feedback frequency and investment flexibility (via...
Persistent link: https://www.econbiz.de/10005866865
In this paper we relate individual risk attitude as elicited by binary lotteriesand certainty equivalents to market behavior. By analyzing 26 independentmarkets with a total of 280 participants we show that binary lottery choicesand certainty equivalents are poorly correlated. Only lottery...
Persistent link: https://www.econbiz.de/10005867015
This paper focuses on egocentric biases in financial decisions. Subjects first designa portfolio, whereby each combination of assets yields the same expected returnand variance of returns. They are then confronted with two alternative portfolios;the average portfolio and the portfolio of one’s...
Persistent link: https://www.econbiz.de/10005867327
This paper presents simple su±cient conditions under which optimal bunches inadverse-selection principal-agent problems can be characterized without using optimal controltheory.
Persistent link: https://www.econbiz.de/10005867929