Essays on Investor Behavior

Essays on Investor Behavior

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In Chapter 3, using a laboratory investment simulation, I examine how the presentation style of feedback, aggregated results or segregated results, affects subjects' risk taking in the presence of background risk. I find little effect of presentation style of feedback on subjects' risk taking, but overall I find that subjects in both treatments are quite willing to take on risk. I suggest that presenting the results of background risk along with investment results, whether segregated or aggregated, may increase risk risk taking changes after sorting observations by return deciles. Table 8 presents the change in risk taking by return decile. Risk Up is the percentage of observations in which investors increase their risk taking in the final six months of theanbsp;...

Title:Essays on Investor Behavior
Publisher:ProQuest - 2008

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