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Overconfidence, risk aversion and (economic) behavior of individual traders in experimental asset markets
Michailova, Julija - 2010
In this paper influence of behavioral factors (overconfidence and risk aversion) on financial decision making of … experiments. In conducted asset market sessions subjects, based on their pre-experimental overconfidence scores, were assigned to … activity were overconfidence dependent. Even small variations in miscalibration among players of the same “type”, comprising …
Persistent link: https://www.econbiz.de/10015224080
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Overconfidence, risk aversion and (economic) behavior of individual traders in experimental asset markets
Michailova, Julija - 2010
In this paper influence of behavioral factors (overconfidence and risk aversion) on financial decision making of … experiments. In conducted asset market sessions subjects, based on their pre-experimental overconfidence scores, were assigned to … activity were overconfidence dependent. Even small variations in miscalibration among players of the same “type”, comprising …
Persistent link: https://www.econbiz.de/10015226714
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Overconfidence, Risk Aversion and Individual Financial Decisions in Experimental Asset Markets
Michailova, Julija - 2010
We investigate the influence of overconfidence and risk aversion on individual financial decision making in the … their pre-experimental overconfidence scores, were assigned to the two types of markets: least overconfident subjects formed … five “rational” markets and most overconfident subjects formed five “overconfident” markets. The asset market experiment …
Persistent link: https://www.econbiz.de/10015240735
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Overconfidence, Risk Aversion and Individual Financial Decisions in Experimental Asset Markets
Michailova, Julija - 2010
We investigate the influence of overconfidence and risk aversion on individual financial decision making in the … their pre-experimental overconfidence scores, were assigned to the two types of markets: least overconfident subjects formed … five “rational” markets and most overconfident subjects formed five “overconfident” markets. The asset market experiment …
Persistent link: https://www.econbiz.de/10015247313
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Experimental Studies of Overconfidence in Financial Markets
Julija Michailova - 2010
This doctoral thesis investigates the influence of overconfidence on the outcomes in experimental asset markets, both … that is later used in economic experiments to measure subjects’ overconfidence. The second part investigates the role of … market overconfidence in the occurrence of bubbles in asset prices and the emergence of other stylized facts of financial …
Persistent link: https://www.econbiz.de/10009428972
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Auctions with Loss Averse Bidders
Eisenhuth, Roland; Ewers, Mara - 2010
We theoretically and experimentally study independent private value auctions in the presence of bidders who are loss averse in the sense of Köszegi and Rabin (2007). In one specification, we consider gains and losses in two dimensions separately, about whether they receive the object or not,...
Persistent link: https://www.econbiz.de/10015229306
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Problems of utility and prospect theories. A “certain–uncertain” inconsistency within their experimental methods
Harin, Alexander - 2015
–lottery incentive experiment that includes a certain outcome cannot be unquestionably correct. Well-known experimental results and …
Persistent link: https://www.econbiz.de/10015249791
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The relevance of coarse thinking for investors' willingness to pay: An experimental study
Siddiqi, Hammad - 2010
for a risky asset in a laboratory experiment. We find that thinking-by-analogy has a strong influence when the assets in …
Persistent link: https://www.econbiz.de/10015222359
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Genetic Determinants of Financial Risk Taking
Kuhnen, Camelia M.; Chiao, Joan Y. - 2008
Individuals vary in their willingness to take financial risks. Here we show that variants of two genes that regulate dopamine and serotonin neurotransmission and have been previously linked to emotional behavior, anxiety and addiction (5-HTTLPR and DRD4) are significant determinants of risk...
Persistent link: https://www.econbiz.de/10015215671
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Previous outcomes and reference dependence: A meta study of repeated investment tasks with and without restricted feedback
Hopfensitz, Astrid - 2009
When investment is repeated, previous outcomes (winning/losing) as well as the current budget level (gain/loss domain) influence decisions. The first is related to the so-called "gamblers fallacy". The second to value function relative to some reference point. Both effects have been extensively...
Persistent link: https://www.econbiz.de/10015217487