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We document that prior portfolio choices influence investors' expectations about asset values, and their future choices. We find that people update more from information consistent with their prior choices, leading to sticky portfolios over time. These effects are related to how the brain's...
Persistent link: https://www.econbiz.de/10012955454
We document that prior portfolio choices influence investors' expectations about asset values, and their future choices. We find that people update more from information consistent with their prior choices, leading to sticky portfolios over time. These effects are related to how the brain's...
Persistent link: https://www.econbiz.de/10012956310
We document that prior portfolio choices influence investors' expectations about asset values, and their future choices. We find that people update more from information consistent with their prior choices, leading to sticky portfolios over time. These effects are related to how the brain's...
Persistent link: https://www.econbiz.de/10012455243
Persistent link: https://www.econbiz.de/10009761149
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Self-attribution bias is a long-standing concept in psychology research and refers to individuals' tendency to attribute successes to personal skills and failures to factors beyond their control. Recently, this bias is also being studied in household finance research and is considered to...
Persistent link: https://www.econbiz.de/10013034567
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improve financial decision-making, we conduct an investment experiment. We implement a 2 × 2 factorial design to test the … portfolios) on decision-making quality. Overall, our results suggest a differential effect of presentation format and choice … architecture: Firstly, we find that the graphical presentation format lowers decision-making quality when the environment is more …
Persistent link: https://www.econbiz.de/10012591170
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