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Intertemporal Preference with Loss Aversion : Consumption and Risk Attitude

Choi, Kyoung Jin - 2020

We study the consumption and portfolio selection problem of an agent who faces consumption irreversibility: there is disutility from changing consumption levels. The derived preference exhibits intertemporal loss aversion toward consumption changes with the previous consumption level being the...

Persistent link: https://www.econbiz.de/10012847313

The display of information and household investment behavior

Shaton, Maya - 2016

I exploit a natural experiment to show that household investment decisions depend on the manner in which information is displayed. Israeli retirement funds were prohibited from displaying returns for periods shorter than twelve months. In this setting, the information displayed was altered but...

Persistent link: https://www.econbiz.de/10011709245

Financial literacy, behavioral traits, and ePayment adoption and usage in Japan

Trinh Quang Long; Morgan, Peter J.; Yoshino, Naoyuki - In: Financial innovation : FIN 9 (2023) 1, pp. 1-30

This study investigates how financial literacy and behavioral traits affect the adoption of electronic payment (ePayment) services in Japan. We construct a financial literacy index using a representative sample of 25,000 individuals from the Bank of Japan's 2019 Financial Literacy Survey. We...

Persistent link: https://www.econbiz.de/10014289134

TV Media Sentiment, Mutual Fund Flows and Investment Decisions : They Don’t Put Their Money Where Their Sentiment Is

Naumer, Hans-Jörg - 2020

, consumer sentiment and excess flows of mutual funds, I find evidence that daily TV news is reflected in consumer sentiment and … their sentiment is. The findings are robust to different measures of the fund flows and an alternative indicator for the … news sentiment. The results indicate a direction for further studies on a more micro level …

Persistent link: https://www.econbiz.de/10012843406

Risk aversion among Australian households

Breunig, Robert; Freestone, Owen - 2019

Persistent link: https://www.econbiz.de/10012223777

Household economic decisions under the shadow of terrorism

Christelis, Dimitris; Georgarakos, Dimitris - 2009

We investigate, using the 2002 US Health and Retirement Study, the factors influencing individuals' insecurity and expectations about terrorism, and study the effects these last have on households' portfolio choices and spending patterns. We find that females, the religiously devout, those...

Persistent link: https://www.econbiz.de/10003864066

‘Invest!' : Liberty Bonds and Stock Ownership over the Twentieth Century

Brunet, Gillian; Hilt, Eric; Jaremski, Matthew S. - National Bureau of Economic Research - 2025

The Liberty Bond drives of World War I were nation-wide interventions aimed at increasing financial literacy and associating bond ownership with patriotism. Using data from the first year of the Survey of Consumer Finances, 1947, through 1971, we investigate whether exposure to the drives shaped...

Persistent link: https://www.econbiz.de/10015361417

Representative Consumer's Risk Aversion and Efficient Risk-Sharing Rules

Hara, Chiaki; Huang, James; Kuzmics, Christoph - 2006

We study the representative consumer's risk attitude and efficient risk-sharing rules in a single-period, single-good economy in which consumers have homogeneous probabilistic beliefs but heterogeneous risk attitudes. We prove that if all consumers have convex absolute risk tolerance, so must...

Persistent link: https://www.econbiz.de/10014058197

Is cross-category brand loyalty determined by risk aversion?

Silberhorn, Nadja; Hildebrandt, Lutz - 2009

The need to understand and leverage consumer-brand bonds has become critical in a marketplace characterized by increasing unpredictability, diminishing product differentiation, and heightened competitive pressure. This is especially true for fast moving consumer goods (FMCG) manufacturers and...

Persistent link: https://www.econbiz.de/10003905623

Intertemporal consumption and debt aversion : a replication and extension

Ahrens, Steffen; Bosch-Rosa, Ciril; Meissner, Thomas - 2022

We replicate Meissner (2016) where debt aversion was reported for the first time in an intertemporal consumption and saving problem. While Meissner (2016) uses a German sample, our subjects are US undergraduate students. All of the main findings from the original study replicate, with similar...

Persistent link: https://www.econbiz.de/10012799407