In a large-scale laboratory experiment, we investigate whether subjects’ scores on the cognitivereflection test (CRT …

mimic the selection of health insurance, prescriptiondrug, or retirement savings plans. However, in our experiment, the … number of options increases, with the decline more pronouncedfor older subjects. Heuristics seem to di®er by age with older …-of-sample experiment.... …

familiar but not local stocks. Our experiment showsno evidence that familiarity is a reason for local bias. …Empirical evidences show that investors tend to be biased toward investing indomestic (home bias) and local (local bias … more in such stocks”. We conducted an experimentin Jena, Germany to test whether subjects show local bias and use …

We study time preferences in a real-effort experiment with a one-month horizon. We report thattwo thirds of choices …

proof-of-concept study.Moreover, an experiment was conducted in order to analyze the impact of clock speedson the bidders …

We investigate the role of affect and deliberation on social preferences. In ourlaboratory experiment subjects decide …

correlation with stocks and bond markets. Whenevaluating using the Markowitz portfolio selection theory, hedge funds appear … tooffer a remarkable opportunity. Yet use of the Markowitz theory neglects three importantqualities of hedge funds: the … existence of significant autocorrelation, bias,and fat tails. Each of these three issues has been studied individually, but no …