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dc.contributor.authorMenkhoff, Lukasen_US
dc.contributor.authorSchmeling, Maiken_US
dc.contributor.authorSchmidt, Ulrichen_US
dc.date.accessioned2010-04-07en_US
dc.date.accessioned2010-04-29T15:12:02Z-
dc.date.available2010-04-29T15:12:02Z-
dc.date.issued2010en_US
dc.identifier.urihttp://hdl.handle.net/10419/30261-
dc.description.abstractThis paper presents an online-experiment on overconfidence in the context of financial markets. Our subject pool consists of institutional investors, investment advisors and individual investors, all of them being registered users of a large online platform for market sentiment data. Due to their registration, several socioeconomic characteristics of participants can be controlled for in our analysis. It turns out that there are stable differences in overconfidence between the three investor groups. Moreover, investment experience and age have a significant impact on the degree of overconfidence which goes surprisingly in opposite direction. We argue that these results have important implications for studies analyzing the impact of experience on behavior in (financial) markets.en_US
dc.language.isoengen_US
dc.publisherKiel Institute for the World Economy (IfW) Kielen_US
dc.relation.ispartofseriesKiel working paper 1612en_US
dc.subject.jelG1en_US
dc.subject.jelD81en_US
dc.subject.jelF30en_US
dc.subject.ddc330en_US
dc.subject.keywordMarket behavioren_US
dc.subject.keywordoverconfidenceen_US
dc.subject.keywordexperienceen_US
dc.subject.keywordprofessionalismen_US
dc.titleOverconfidence, experience, and professionalism: An experimental studyen_US
dc.typeWorking Paperen_US
dc.identifier.ppn623170558en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:Kieler Arbeitspapiere, IfW
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