ordered with respect to the third-degree stochastic dominance (3SD) criterion are ranked by the participants of the experiment …

investment environments, we systematically modified the seminal study design by Gneezy and Potters (1997) to include five key … adjustments. These involved realistic, down-scaled returns, return compounding, and extended investment horizons. Contrary to some …

development, and investors' investment propensity. We ran artefactual field experiments with two participant pools (finance … professionals and students) that had to take investment decisions, differing in (i) the direction of the shock (down, up, straight … stock. Furthermore, we show that investment propensity is negatively associated with the direction of the shock and …

In laboratory experiments we explore the effects of communication and group decision making on investment behavior and …-free option less frequently. Finally, we document gender differences in investment behavior: groups of two female subjects choose … the risk-free investment more often and are slightly more prone to the hot hand belief than groups of two male subjects …

experiment with 743 subjects whether small-scale, seemingly negligible, events also affect the formation of risk preferences. In … second lottery almost a year later. The same pattern emerges in another experiment with 136 subjects where the second lottery …