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Framing Effects and Impatience : Evidence from a Large Scale Experiment

van der Heijden, Eline - 2013

We confront a representative sample of one 1,102 Dutch individuals with a series of incentivized investment decisions and also elicit their time preferences. There are two treatments that differ in the frequency at which individuals decide about the invested amount. The low frequency treatment...

Persistent link: https://www.econbiz.de/10013089008

Higher Order Risk Preferences : New Experimental Measures, Determinants and Field Behavior

Schneider, Sebastian O. - 2020

We use a novel method to elicit and measure higher order risk preferences (prudence and temperance) in an experiment … with 658 adolescents. In line with theoretical predictions, we find that higher order risk preferences - particularly … the analysis of students' field behavior would yield largely misleading conclusions about the relation of risk aversion to …

Persistent link: https://www.econbiz.de/10012823871

Asset Integration, Risk Taking and Loss Aversion in the Laboratory

Morrison, William G. - 2019

We report on a laboratory experiment testing for the presence of loss aversion, as separate from risk aversion … loss by experimental participants. Our experimental design augments the Holt-Laury risk preference elicitation methodology … additional reluctance to participate in a mixed domain lottery beyond that predicted by risk aversion. We show that only …

Persistent link: https://www.econbiz.de/10012870215

Does the Choice of Well-Being Measure Matter Empirically? An Illustration with German Data

Decancq, Koen - 2014

We discuss and compare five measures of individual well-being, namely income, an objective composite well-being index, a measure of subjective well-being, equivalent income, and a well-being measure based on the von Neumann-Morgenstern utilities of the individuals. After examining the...

Persistent link: https://www.econbiz.de/10013044420

Do Measures of Risk Attitude in the Laboratory Predict Behavior Under Risk in and Outside of the Laboratory?

Charness, Gary - 2019

We consider the external validity of laboratory measures of risk attitude. Based on a large-scale experiment using a … laboratory risky financial decisions, and (ii) behavior in naturally-occurring field behavior under risk (financial, health and … employment decisions). We find that measures of risk attitude are related to behavior in laboratory financial decisions and the …

Persistent link: https://www.econbiz.de/10012868010

The Diversity of Household Assets Holdings in the United States in 2007 and 2009 : Measurement and Determinants

Sierminska, Eva - 2019

We apply diversity indices, such as the Gini-Simpson index and entropy related indices, to the study of the distribution of individual asset holdings in the United States in 2007 and 2009. We examine the impact of the 2008 recession on asset diversity and the way individual socio-economic...

Persistent link: https://www.econbiz.de/10012863795

Debt Portfolios

Hintermaier, Thomas - 2011

We provide a model with endogenous portfolios of secured and unsecured household debt. Secured debt is collateralized by owner-occupied housing whereas unsecured debt can be discharged according to bankruptcy regulations. We show that the calibrated model matches important quantitative...

Persistent link: https://www.econbiz.de/10013126139

Portfolio Allocation, Income Uncertainty and Households' Flight from Risk

Brown, Sarah - 2016

households reduce their financial risk exposure when confronted with background risk. Our novel modelling approach – termed a … risk, and is unique in recovering for, any given risky asset class, the shares that are reallocated to a safer asset … category. Background risk exerts a significant impact on household portfolios, resulting in a 'flight from risk', away from …

Persistent link: https://www.econbiz.de/10012977335

Effects of Timing and Reference Frame of Feedback : Evidence from a Field Experiment

Fischer, Mira - 2018

Information about past performance has been found to sometimes improve and sometimes worsen subsequent performance. Two factors may help to explain this puzzle: which aspect of one's past performance the information refers to and when it is revealed. In a field experiment in secondary schools,...

Persistent link: https://www.econbiz.de/10012906502

Climatic Roots of Loss Aversion

Galor, Oded - 2018

This research explores the origins of loss aversion and the variation in its prevalence across regions, nations and ethnic group. It advances the hypothesis and establishes empirically that the evolution of loss aversion in the course of human history can be traced to the adaptation of...

Persistent link: https://www.econbiz.de/10012910744