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Risk tolerance and entrepreneurship
Hvide, Hans K.; Panos, Georgios A. - 2013
A tradition from Knight (1921) argues that more risk tolerant individuals are more likely to become entrepreneurs, but perform worse. We test these predictions with two risk tolerance proxies: stock market participation and personal leverage. Using investment data for 400,000 individuals, we...
Persistent link: https://www.econbiz.de/10010293212
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Disparities in Psychological Traits and Income: Race, Ethnicity, and Gender in the U.S.
Dariel, Aurelie; Ham, John C.; Nikiforakis, Nikos; … - 2024
There are pronounced racial, ethnic, and gender gaps in income in the U.S. We investigate whether these correspond with differences in competitiveness, risk tolerance, and confidence relative to performance in a large, stratified sample of the U.S. prime-age population. We find substantial...
Persistent link: https://www.econbiz.de/10014533886
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Risk Tolerance and Entrepreneurship
Hvide, Hans K.; Panos, Georgios A. - Institute for the Study of Labor (IZA) - 2013
A tradition from Knight (1921) argues that more risk tolerant individuals are more likely to become entrepreneurs, but perform worse. We test these predictions with two risk tolerance proxies: stock market participation and personal leverage. Using investment data for 400,000 individuals, we...
Persistent link: https://www.econbiz.de/10010610137
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Investors' trading activity, a behavioural perspective: professionals vs. individuals
Kourtidis, Dimitrios; Željko Å evi?; Chatzoglou, … - In: International Journal of Behavioural Accounting and Finance 2 (2011) 3/4, pp. 346-366
investment behaviour: overconfidence, risk tolerance, self-monitoring and social influence. Adopting this approach, a cluster …
Persistent link: https://www.econbiz.de/10010668762
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Disparities in psychological traits and income : race, ethnicity, and gender in the U.S.
Dariel, Aurélie; Ham, John C.; Nikiforakis, Nikos; … - 2024
There are pronounced racial, ethnic, and gender gaps in income in the U.S. We investigate whether these correspond with differences in competitiveness, risk tolerance, and confidence relative to performance in a large, stratified sample of the U.S. prime-age population. We find substantial...
Persistent link: https://www.econbiz.de/10014493852
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The Impact of Experience on Risk Taking, Overconfidence, and Herding of Fund Managers: Complementary Survey Evidence
Brozynski, Torsten; Menkhoff, Lukas; Schmidt, Ulrich - 2004
. Higher risk taking may be explained by a higher degree of overconfidence, less herding behavior, or a lower degree of risk … overconfidence is mixed. We will argue that this mixed evidence may be likely due to the heterogeneity in the employed definitions of … risk taking and overconfidence. …
Persistent link: https://www.econbiz.de/10010261673
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Groupthink: Collective delusions in organizations and markets
Bénabou, Roland - 2013
This paper investigates collective denial and willful blindness in groups, organizations and markets. Agents with anticipatory preferences, linked through an interaction structure, choose how to interpret and recall public signals about future prospects. Wishful thinking (denial of bad news) is...
Persistent link: https://www.econbiz.de/10010293122
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It is hard to beat the monkeys: On the value of asymmetric fundamental information in asset markets
Kirchler, Michael - 2008
overconfidence but due to the asymmetric information structure of the market. …
Persistent link: https://www.econbiz.de/10010293392
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Experimental study of implications of SFAS 131: The effects of the new standard on the informativeness of segment reporting
Bar-Yosef, Sasson; Venezia, Itzhak - 2004
of overconfidence. …
Persistent link: https://www.econbiz.de/10010306538
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Anxiety, overconfidence, and excessive risk taking
Eisenbach, Thomas M.; Schmalz, Martin C. - 2015
We provide a preference-based rationale for endogenous overconfidence. Horizon-dependent risk aversion, combined with a … possibility to forget, can generate overconfidence and excessive risk taking in equilibrium. An "anxiety prone" agent, who is more … results to the literature on empirically observed overconfidence and excessive risk taking in several domains of financial and …
Persistent link: https://www.econbiz.de/10011341006