models predict both, higher as well as lower levels of risk aversion when taking risk for others, and the experimental … evidence is mixed. In our within-subject design, money managers have substantial responsibility by taking investment decisions … managers invest significantly less for others than for themselves (cautious shift) which is mainly driven by a less risk averse …

This study analyzes group influence on investment decisions in an attempt to determine the correlation between two … financial behavior tendencies: overconfidence and herding behavior. An experiment was carried out with 92 students from the …

). However in typical experiments these unknown probabilities are known by others. Thus the typical Ellsberg experiment is a … normatively appropriate.We find that eliminating asymmetric information in the Ellsberg experiment while leaving ambiguity in …

-based questionnaire before the experiment and participants' preferencesfor resolution timing, risk, and time were incentive compatibly … measured during the experiment.Main findings are that delayed resolution can affect investment, that the effect depends on the …This experimental study is concerned with the impact of the timing of the resolution of risk onpeople's willingness to …

When investment is repeated, previous outcomes (winning/losing) as well as the current budget level (gain/loss domain … experiments initially conducted to investigate myopic-loss-aversion. We observe that investment is related to the number of … analysis is extended to settings with restricted flexibility concerning investment. …

Preference for control affects investment behavior. Participants of laboratory experiments invest different amount of …. Participants increase their investment when their preferred method of control is used. Participants who prefer to control more … reduce their investment more strongly when face with less control. Preference for control has larger effect on investment …

, 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 …

by a large literature. Here we test whether the occurrence of bubbles depends on the experimental subjects' cognitive … sophistication. In a two-part experiment, we first run a battery of tests to assess the subjects' cognitive sophistication and …

correlation neglect hypothesis and the overconfidence which both lead to suboptimal diversification decisions. The investment … alternatives are constructed in a way that the Markowitz' efficiency frontier is reduced to a single point in the return-risk …, use nai͏̈ve diversification strategies and take irrelevant information as a foundation for their investment decisions, the …

We report the results of an experiment designed to study whether or not having experienced booms and crashes in …