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Does sophistication affect long-term return expectations? Evidence from financial advisers' exam scores
(2013-01-22)
We use unique data fromfinancial advisers’ professional exam scores and combine it with other variables to create an index of financial sophistication. Using this index to explain long-term stock return expectations, we ...
Incompatible European Partners? Cultural Predispositions and Household Financial Behavior
(2015-01-27)
The Eurozone fiscal crisis has created pressure for institutional harmonization, but skeptics argue that cultural predispositions can prevent convergence in behavior. Our paper derives a robust cultural classification of ...
A Life-Cycle Model with Ambiguous Survival Beliefs
(2015-10-02)
Based on a cognitive notion of neo-additive capacities reflecting likelihood insensitivity with respect to survival chances, we construct a Choquet Bayesian learning model over the life-cycle that generates a motivational ...
Financial education, literacy and investment attitudes
(2015-05-01)
Based on a sample of university students, we provide field and laboratory evidence that a small scale training intervention has both a statistically and economically significant effect on subjective and objective assessments ...
Smoking Hot Portfolios? Self-Control and Investor Decisions
(2019-03-01)
Self-control failure is among the major pathologies (Baumeister et al. (1994)) affecting individual investment decisions which has hardly been measurable in empirical research. We use cigarette addiction identified from ...
Time Preferences over the Life Cycle
(2020-02-01)
We study whether and how time preferences change over the life cycle, exploiting representative long-term panel data. We estimate the age patterns of discount rates from age 25 to 80. In order to identify age effects, we ...
On the (ir)relevance of monetary incentives in risk preference elicitation experiments
(2020-08-31)
Incentivized experiments in which individuals receive monetary rewards according to the outcomes of their decisions are regarded as the gold standard for preference elicitation in experimental economics. These task-related ...
CentERdata
CentERdata is an eminent research institute, located on the Tilburg University (TiU) campus. We have supported and contributed to research that is relevant to science, society and policy since 1997. We conduct research ...
FASD
The Finnish Association of Securities Dealers, FASD, is the co-operation and self-regulatory organization of the Finnish investment services industry.[
HRS
The University of Michigan Health and Retirement Study (HRS) is a longitudinal panel study that surveys a representative sample of approximately 20,000 people in America, supported by the National Institute on Aging (NIA ...