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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 ...
Ambiguity and Investor Behavior
(2020-11-24)
We relate time-varying aggregate ambiguity (V-VSTOXX) to individual investor trading. We use the trading records of more than 100,000 individual investors from a large German online brokerage from March 2010 to December ...
Biases in Information Selection and Processing: Survey Evidence from the Pandemic
(2021-02-10)
How people form beliefs is crucial for understanding decision-making un- der uncertainty. This is particularly true in a situation such as a pandemic, where beliefs will affect behaviors that impact public health as well ...
Smart (Phone) Investing? A Within Investor-Time Analysis of New Technologies and Trading Behavior
(2021-02-02)
Using transaction-level data from two German banks, we study the effects of smartphones on investor behavior. Comparing trades by the same investor in the same month across different platforms, we find that smartphones ...
The Disposition Effect in Boom and Bust Markets
(2021-02-05)
The disposition effect is implicitly assumed to be constant over time. However, drivers of the disposition effect (preferences and beliefs) are rather countercyclical. We use individual investor trading data covering several ...
Separating the Effects of Beliefs and Attitudes on Pricing under Ambiguity
(2021-03-10)
The pricing of an ambiguous asset, whose cash flow stream is uncertain, may be affected by three factors: the belief regarding the realization likelihood of cash flows, the subjective attitude towards risk, and the attitude ...
Mirror, Mirror on the Wall: Machine Predictions and Self-Fulfilling Prophecies
(2021-04-20)
We show that disclosing machine predictions to affected parties can trigger self-fulfilling prophecies. In an investment game, we experimentally vary investors’ and recipients’ access to a machine prediction about recipients’ ...
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 ...
Kenneth French
The Fama-French Portfolios are constructed from the intersections of two portfolios formed on size, as measured by market equity (ME), and three portfolios using the ratio of book equity to market equity (BE/ME) as a proxy ...
WP313_BG_exp1_2021
A data set comprising 1397 distinct examples. We collected this data in an incentivized field study that we conducted at a large German university over three years (2016-2019) with first-semester economics students. Most ...