We study three fundamental components of financial agency settings: Perception and communication of investment profiles … investment profile terminology is very heterogeneous, resulting in substantial miscommunication between clients and agents …. Financial agents show a high willingness to implement their clients’ preferred investment profiles independent of monetary …

We report an experiment examining risk taking and information aggregation in groups. Group members come to the table … with an individual preference for a choice under risk, based on privately received information, and can share this … information with fellow group members. They then make a decision under risk on behalf of the group using a random dictatorship …

We report a controlled laboratory experiment examining risk-taking and information aggregation in groups facing a … common risk. The experiment allows us to examine how subjects respond to new information, in the form of both privately …

choices being observed, compared to anonymity of choices, on risk taking in a laboratory experiment. I relate participants …' investments in a risky asset directly to social norms for risk taking that are elicited in an incentivized procedure. I find that … risk taking is not affected by the choice being observed by a matched participant. Nor do investments follow elicited norms …

In this paper we use an experiment to compare a theory of risk aversion and a theory of spite as an explanation for … overbidding in auctions. As a workhorse we use the second-price all-pay and the first-price winner-pay auction. Both risk and … spite can be used to rationalize deviations from risk neutral equilibrium bids in auctions. We exploit that equilibrium …

. We present a laboratory experiment that studies how residual risk of failure affects willingness to contribute to climate … risk than in treatments without one. We interpret this as an outcome of a psychological process where residual risk puts …

optimal amount for risk-neutral decisions. A commitment to the length of play in advance, as in the case of long …

different risk characteristics for which they have to state their perceived risk and make investment decisions. Our results hint … at the probability of losing being the main driver of risk perception and investment propensity. Volatility plays a less …Most textbook finance literature assumes risk to be the standard deviation of returns (volatility), which is not only …

We use cross-country microdata to analyse the risk taking of households in Europe and the US. Concerning the extensive … inside Europe we document substantial differences. Furthermore, average risk aversion is strongly correlated with the share … explainable by household characteristics as well as differences in risk aversion and a remainder. We employ the unexplained part …

Despite a considerable premium on equity with respect to risk free assets, many households do not own stocks. We ask … why the prevalence of stockholding is so limited. We focus on individuals' attitudes towards risk and identify relevant … it does not indicate a significant relationship between risk aversion and financial risk taking. However, our analysis …