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IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA) >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/35082
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Full metadata record
| DC Field | | Value | | Language |
| dc.contributor.author | | Oechssler, Jörg | | en_US |
| dc.contributor.author | | Roider, Andreas | | en_US |
| dc.contributor.author | | Schmitz, Patrick W. | | en_US |
| dc.date.accessioned | | 2008-09-19 | | en_US |
| dc.date.accessioned | | 2010-07-07T11:33:23Z | | - |
| dc.date.available | | 2010-07-07T11:33:23Z | | - |
| dc.date.issued | | 2008 | | en_US |
| dc.identifier.pi | | urn:nbn:de:101:1-2008052718 | | en_US |
| dc.identifier.uri | | http://hdl.handle.net/10419/35082 | | - |
| dc.description.abstract | | We use a simple, three-item test for cognitive abilities to investigate whether established behavioral biases that play a prominent role in behavioral economics and finance are related to cognitive abilities. We find that higher test scores on the Cognitive Reflection Test of Frederick (2005) indeed are correlated with lower incidences of the conjunction fallacy, conservatism in updating probabilities, and overconfidence. Test scores are also significantly related to subjects' time and risk preferences. We find no influence on anchoring. However, even if biases are lower for people with higher cognitive abilities, they still remain substantial. | | en_US |
| dc.language.iso | | eng | | en_US |
| dc.publisher | | IZA Bonn | | en_US |
| dc.relation.ispartofseries | | IZA Discussion Papers 3481 | | en_US |
| dc.subject.jel | | C91 | | en_US |
| dc.subject.ddc | | 330 | | en_US |
| dc.subject.keyword | | Behavioral finance | | en_US |
| dc.subject.keyword | | biases | | en_US |
| dc.subject.keyword | | cognitive abilities | | en_US |
| dc.subject.keyword | | cognitive reflection test | | en_US |
| dc.subject.stw | | Anlageverhalten | | en_US |
| dc.subject.stw | | Verhaltensökonomik | | en_US |
| dc.subject.stw | | Kognition | | en_US |
| dc.subject.stw | | Entscheidung | | en_US |
| dc.subject.stw | | Test | | en_US |
| dc.title | | Cognitive abilities and behavioral biases | | en_US |
| dc.type | | Working Paper | | en_US |
| dc.identifier.ppn | | 568962907 | | en_US |
| dc.rights | | http://www.econstor.eu/dspace/Nutzungsbedingungen | | - |
| Appears in Collections: | | IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)
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