In this paper, we disentangle investor sentiment into two components: mood and household attitudes towards the economy. We apply acoustical analysis to the daily top ten of music downloads in iTunes for Germany to derive a novel and direct measure for mood. We match this novel mood index with...

This paper investigates the causal effect of economic sentiment on consumption using micro-data between 2008 and 2017. After showing that individuals update their beliefs about the national state of the economic in response to local housing and labor market fluctuations, I use the Social...

Innovations in financial technology have expanded individuals' access to unsecured personal loans. Building on insights from consumer behavior research that link negative emotions to credit-financed consumption, we show that transitory emotion influences households' use of online loans....

This study investigates whether and how the crisis in 2008/2009 affects households' risk attitudes, subjective risk and return expectations, and planned financial risk taking using the German SAVE study. Households' wealth change from end-2007 to end-2009 is not found to have an effect. However,...

The purpose of this poster is to describe a study that was undertaken to determine if an individual's mood is associated with the individual's responses to a set of CRRA questions. It was thought that if such an association exists, then it is likely that Loewenstein et al.'s (2001)...

Homophily — individuals' affinity for others like them — is a powerful principle which governs whose opinions they attend to. Using nearly 2,400 advisory meetings, we find that homophily has a significant positive impact on the likelihood of following financial advice. The increased...

As the global population ages, older decision makers will be required to take greater responsibility for their own physical, psychological and financial well-being. With this in mind, researchers have begun to examine the effects of ageing on decision making and associated neural circuits. A new...

Credit cards are one of the most common forms of credit offered to consumers and one in which information is highly standardized through mandated disclosures. Three experiments examine the effects of affect inductions (mild positive or anxious affect) on the use of credit card disclosure...