The Resource Time varying risk aversion, Luigi Guiso, Paola Sapienza and Luigi Zingales, (electronic resource)

Time varying risk aversion, Luigi Guiso, Paola Sapienza and Luigi Zingales, (electronic resource)

Label
Time varying risk aversion
Title
Time varying risk aversion
Statement of responsibility
Luigi Guiso, Paola Sapienza and Luigi Zingales
Creator
Contributor
Author
Subject
Language
eng
Summary
We use a repeated survey of an Italian bank's clients to test whether investors' risk aversion increases following the 2008 financial crisis. We find that both a qualitative and a quantitative measure of risk aversion increases substantially after the crisis. After considering standard explanations, we investigate whether this increase might be an emotional response (fear) triggered by a scary experience. To show the plausibility of this conjecture, we conduct a lab experiment. We find that subjects who watched a horror movie have a certainty equivalent that is 27% lower than the ones who did not, supporting the fear-based explanation. Finally, we test the fear-based model with actual trading behavior and find consistent evidence
Member of
Cataloging source
GZM
http://library.link/vocab/creatorName
Guiso, Luigi
Illustrations
illustrations
Index
no index present
Literary form
non fiction
Nature of contents
  • dictionaries
  • bibliography
http://library.link/vocab/relatedWorkOrContributorName
  • Sapienza, Paola
  • Zingales, Luigi
  • Centre for Economic Policy Research (Great Britain)
Series statement
  • Discussion paper series,
  • Financial economics
Series volume
no. 9589
http://library.link/vocab/subjectName
  • Capital assets pricing model
  • Global Financial Crisis, 2008-2009
  • Risk perception
  • Fear
Label
Time varying risk aversion, Luigi Guiso, Paola Sapienza and Luigi Zingales, (electronic resource)
Link
http://www.cepr.org.ezproxy.eui.eu/content/discussion-papers
Instantiates
Publication
Note
  • "August 2013."
  • "Submitted 26 July 2013."
Bibliography note
Includes bibliographical references (pages 26-28)
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier.
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent.
Control code
FIEb17471795
Extent
1 online resource (52 pages)
Form of item
online
Media category
computer
Media MARC source
rdamedia.
Media type code
  • c
Other physical details
illustrations.
Specific material designation
remote
System control number
(OCoLC)855676392
Label
Time varying risk aversion, Luigi Guiso, Paola Sapienza and Luigi Zingales, (electronic resource)
Link
http://www.cepr.org.ezproxy.eui.eu/content/discussion-papers
Publication
Note
  • "August 2013."
  • "Submitted 26 July 2013."
Bibliography note
Includes bibliographical references (pages 26-28)
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier.
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent.
Control code
FIEb17471795
Extent
1 online resource (52 pages)
Form of item
online
Media category
computer
Media MARC source
rdamedia.
Media type code
  • c
Other physical details
illustrations.
Specific material designation
remote
System control number
(OCoLC)855676392

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