1,721,057 research outputs found
The disposition effect in team investment decisions: Experimental evidence
Full text linkThis paper experimentally studies the disposition effects of teams and individuals. The disposition effect describes the phenomenon that investors are reluctant to realize losses, whereas winners are sold too early. Our experiments compare the investments of two-person teams to a setting where investors trade alone. We find that subjects investing jointly exhibit more pronounced disposition effects than individuals. A closer look reveals that investor teams hardly realize losses and predominately sell winners. The data suggest that decision-dependent emotions may explain the differences. That is, teams reporting high levels of regret exhibit significantly higher disposition effects than individuals
Determinants of people’s motivations to approach COVID-19 vaccination centers
No full textAbstract This paper presents the results of a survey exploring the determinants of vacinees’ confidence in COVID-19 vaccines and their motivations to become vaccinated. At the threatening rise of the highly infectious Omicron variant, in December 2021, we interviewed people in waiting lines of vaccination centers. Our results identify risk-averse and social-distancing-compliant people as showing high confidence in the vaccine, which motivates them to receive it for reasons of protecting themselves and others. By contrast, policy incentives, such as “3G/2G” restrictions, motivate risk-tolerant people who opted for vaccination to get access to public areas. Trusting people who regularly vote are little afraid of vaccines’ side effects. Our findings offer insights for policymakers in societies and firms that help to tailor policies promoting vaccination based on people’s economic preferences.Open-Access-Publikationsfonds 202
Economic preferences and compliance in the social stress test of the COVID-19 crisis
No full textWe analyze in a survey study whether economic preferences and pre-crisis social responsibility predict social compliance to the policy regulations. Results show that economic preferences are closely related to compliance with policies fighting the crisis. Risk tolerance negatively affects citizens’ avoidance of crowds, whereas patience helps to do so and to stay home. Present-biased subjects engage in panic buying. Risk tolerance is negatively related with the fear of COVID-19 and trust positively resonates with positive media perception. Pre-crisis social responsible behavior related to fare evasion, turnout, support of vaccination is also positively related with social compliance. Our findings offer insights, which may help policy-makers and organizations to identify risk groups and regions for the allocation of scarce medical or surveillance resources, such as vaccines, masks, and law enforcement
The relation of risk attitudes and other-regarding preferences: A within-subjects analysis
No full textIn this paper we provide experimental evidence on the relation of individual risk attitudes and subjects' aversion to favorable inequality. In a within-subjects design we expand Blanco et al.'s (2011) modified dictator game by the risk-elicitation task of Eckel and Grossman (2002). Our data show strong support for a significant negative correlation between risk tolerance and an aversion to favorable inequality. The results are independent of gender, i.e., women and men show a similar correlation in these traits. (C) 2016 Elsevier B.V. All rights reserved.University of Gottinge
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