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We examine the relation between testosterone, cortisol, and financial decisions in a sample of naïve investors. We find that testosterone level is positively related to excess risk-taking, whereas cortisol level is negatively related to excess risk-taking (correlation coefficient [r]: 0.75 and...
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We investigate whether soccer players collect their fifth yellow card and their suspension by choice. Using data for the German Bundesliga for the seasons 13/14 to 16/17, we show that the quality of the player's own team, the quality of the teams participating in the next matches, and whether a...
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The ways in which preferences respond to the varying stress of economic environments is a key question for behavioral … economics and public policy. We conducted a laboratory experiment to investigate the effects of stress on financial decision … intelligence tests as cognitive stressors, we find that stress increases subjective discounting rates, has no effect on the degree …
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