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Using detailed mutual fund holdings in the US market, we estimate active mutual fund managers’ loss aversion as a function of both funds’ past performance and asset allocations. We document a substantial variation in loss aversion over time. We further find managers' loss aversion is higher...
Persistent link: https://www.econbiz.de/10014245005
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 …
Persistent link: https://www.econbiz.de/10010371298
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 …
Persistent link: https://www.econbiz.de/10010515798
environments modify students’ risk-taking attitudes. In Booth and Nolen (2012b), subjects are in years 10 and 11, while in Booth …
Persistent link: https://www.econbiz.de/10013315609
severe harvest losses leads to more risk aversion and stronger overweighting of small probabilities. Higher losses are not …
Persistent link: https://www.econbiz.de/10011631008
Persistent link: https://www.econbiz.de/10013414770
We present results from a laboratory study of loss aversion in the context of intertemporal choice. We investigate whether the provision of (windfall) endowments results in different elicited discount rates relative to subjects who earn income or earn and retain the income for a period before...
Persistent link: https://www.econbiz.de/10013145193
probabilities, in an experiment and found supporting evidence …
Persistent link: https://www.econbiz.de/10013091978
We report the results of a laboratory experiment testing for the existence of loss aversion in a standard risk aversion … protocol (Holt and Laury, 2002). In our experiment, participants earn and retain money for a week before using it in an … incentivized risk preference elicitation task. We find loss aversion, distinct from risk aversion, has a significant effect on …
Persistent link: https://www.econbiz.de/10013050634
This study test whether social reference points impact individual risk taking. In a laboratory experiment, decision … across two treatments. We find a significant treatment effect on risk taking: decision makers vary their risk taking in order … of private reference points on risk taking. …
Persistent link: https://www.econbiz.de/10010211343