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Autor:innen: 
Erscheinungsjahr: 
2010
Schriftenreihe/Nr.: 
Jena Economic Research Papers No. 2010,004
Verlag: 
Friedrich Schiller University Jena and Max Planck Institute of Economics, Jena
Zusammenfassung: 
Preference for control affects investment behavior. Participants of laboratory experiments invest different amount of money in a risky asset when face with two different methods of control which have identical payoff structure and probability distribution, but provide different sense of control. Preference for controlling and not controlling are both observed. Participants increase their investment when their preferred method of control is used. Participants who prefer to control more reduce their investment more strongly when face with less control. Preference for control has larger effect on investment behavior when participants are induced to have a comparative mindset rather than non-comparative mindset.
Schlagwörter: 
Preference for control
sense of control
risk attitudes
illusion of control
source preference
portfolio choice
behavioral finance
comparative mindset
non-comparative mindset
JEL: 
B49
C91
D81
G11
G19
Dokumentart: 
Working Paper

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