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Recognition-based and familiarity-based portfolio strategies : an experimental study
Diao, Linan - 2011
, therefore, invest more in such stocks'. We conducted an experiment in Jena, Germany to test whether subjects show local bias and … more in recognized and familiar but not local stocks. Our experiment shows no evidence that familiarity is a reason for …
Persistent link: https://www.econbiz.de/10008990018
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Skewness Seeking in a Dynamic Portfolio Choice Experiment
Brocas, Isabelle - 2018
We conduct a controlled laboratory experiment in which subjects dynamically choose to allocate their portfolio between … purchasing the bet throughout the experiment. Among the latter group, purchases are most frequent when subjects are rich and when …
Persistent link: https://www.econbiz.de/10012936544
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The Bull of Wall Street : Experimental Analysis of Testosterone and Asset Trading
Nadler, Amos - 2017
Growing evidence shows that biological factors affect individual financial decisions that could be reflected in financial markets. Testosterone, a chemical messenger especially influential in male physiology, has been shown to affect economic decision making, and is taken as a...
Persistent link: https://www.econbiz.de/10012972194
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Measuring Loss Aversion under Ambiguity : A Method to Make Prospect Theory Completely Observable
Abdellaoui, Mohammed - 2016
new tests of prospect theory. We implemented our method in an experiment and obtained support for prospect theory. Utility … and Kahneman's (1992) prospect theory. While methods existed to measure event weighting and the utility for gains and … measure prospect theory's entire utility function. Consequently, we can properly identify properties of utility and perform …
Persistent link: https://www.econbiz.de/10013007231
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Investment Choice with Managerial Incentive Schemes
Sarkar, Shubhro - 2020
In this paper, we show that firms might get an additional strategic benefit from using marginal-cost-reducing investments in conjunction with a managerial incentive scheme. While both these instruments allow firms to “aggressively” participate in product market competition, we show that they...
Persistent link: https://www.econbiz.de/10012848382
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The effects of personality and IQ on portfolio outcomes
Firth, Chris; Stewart, Neil; Antoniou, Constantinos; … - In: Finance research letters 51 (2023), pp. 1-8
Persistent link: https://www.econbiz.de/10014291571
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Rankings and risk-taking in the finance industry
Kirchler, Michael; Lindner, Florian; Weitzel, Utz - 2016
Rankings are a pervasive feature of the finance industry. Although they have no direct monetary consequences, rankings provide utility for intrinsic (positive self-image) and extrinsic (status) reasons. We recruit a unique subject pool of 204 financial professionals and investigate how anonymous...
Persistent link: https://www.econbiz.de/10011417442
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Diversification Bias and the Law of One Price : An Experiment on Index Mutual Funds
Mauck, Nathan - 2016
Individual investors select high-fee index mutual funds despite the fact that the future payouts are nearly identical. We offer an explanation for this violation of the Law of One Price based on investor desire to diversify. While diversification in some settings may be beneficial, in the case...
Persistent link: https://www.econbiz.de/10013005429
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Estimating ambiguity aversion in a portfolio choice experiment
Ahn, David S.; Choi, Syngjoo; Gale, Douglas; Kariv, Shachar - In: Quantitative economics : QE ; journal of the … 5 (2014) 2, pp. 195-223
We report a portfolio-choice experiment that enables us to estimate parametric models of ambiguity aversion at the …
Persistent link: https://www.econbiz.de/10011757224
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Competition in Portfolio Management : Theory and Experiment
Asparouhova, Elena N. - 2012
We develop a new theory of delegated investment whereby managers compete in terms of composition of the portfolios they … across states. An experiment involving about one hundred participants over six weeks broadly supports the theoretical … portfolios closer to Arrow-Debreu securities (as in the theory) and who had better recent performance (an observation unrelated …
Persistent link: https://www.econbiz.de/10013116268