This study offers the unique opportunity to analyze how an unprecedented crisis such as the September 11 tragedy in uences expected returns and volatility forecasts of individual investors. Via e-mail, we asked a randomly selected group of individual investors with accounts at a German online...

A population of players is considered in which each player may select his neighbors in order to play a 2 × 2 coordination game with each of them. We analyze how the payoffs in the underlying coordination game effect the resulting equilibrium neighborhood resp. network structure.

Behavoiral finance as a subdiscipline of behavorial economics is finance incorporating findings from psychology and sociology into its theories.

...In the following, we put forward a model in which risk management is the only exogenous function of banks.

This paper describes the available annuity contracts and determines their money's worth for diffrent subgroups of the population.

In an experimental 2x2 coordination game with two strict equilibria we observe that, in contrast to equilibrium selection theory (Harsanyi and Selten 1988), only half of the subjects choose the strategy that relates to the payoff- and risk-dominant equilibrium. We propose modified risk dominance...

...The present paper leaves this concern with banks andmarkets aside and instead proposes to focus attention on the industrial corporation as a financial institution in its own right.

This paper describes portfolio choices of German households in the 1980s and 1990s, presenting stylized facts and analyzing recent trends in asset ownership rates and asset shares on the basis of financial accounts and survey data...