Capital protected products are a special type of structured retail products that guarantee a minimum amount of payment at maturity. They were the earliest type of structured products and are very popular with risk averse investors, but nevertheless have become rare in the past years. Using a...

Time preferences are central to human decision making; therefore, a thorough understanding of their international differences is highly relevant. Previous measurements, however, vary widely in their methodology, from questions answered on the Likert scale to lottery-type questions. We show that...

We present new descriptive evidence on the immigrant-native gap in risk and time preferences in Germany, one of the most preferred host countries for immigration. Using the recent waves of the Socio-Economic Panel (SOEP) dataset, we find that the immigrant-native gap in risk preferences has...

In the past decades, a multitude of judgmental and behavioral biases with regards to financial decision making has been found. But are these biases connected with each other? Are people prone to, e.g., illusion of control, usually also more prone to confirmation or hindsight bias? In this study...

We study the influence of systematic probability misestimation on complex financial investment decisions on the context of structured financial products. Structured products have in recent years become more and more complex. We study the question whether this complexity might be a sophisticated...