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dc.contributor.authorWitte, Björn-Christopheren_US
dc.date.accessioned2011-08-18en_US
dc.date.accessioned2011-10-06T14:08:18Z-
dc.date.available2011-10-06T14:08:18Z-
dc.date.issued2011en_US
dc.identifier.isbn978-3-931052-91-1en_US
dc.identifier.urihttp://hdl.handle.net/10419/50318-
dc.description.abstractThis article explores the influence of competitive conditions on the evolutionary fitness of different risk preferences. As a practical example, the professional competition between fund managers is considered. To explore how different settings of competition parameters, the exclusion rate and the exclusion interval, affect individual investment behavior, an evolutionary model based on a genetic algorithm is developed. The simulation experiments indicate that the influence of competitve conditions on investment behavior and attitudes towards risk is significant. What is alarming is that intense competitive pressure generates riskseeking behavior and undermines the predominance of the most skilled.en_US
dc.language.isoengen_US
dc.publisherBERG Bambergen_US
dc.relation.ispartofseriesBERG working paper series on government and growth 81en_US
dc.subject.jelC73en_US
dc.subject.jelD81en_US
dc.subject.jelG11en_US
dc.subject.jelG24en_US
dc.subject.ddc330en_US
dc.subject.keywordrisk preferencesen_US
dc.subject.keywordcompetitionen_US
dc.subject.keywordgenetic programmingen_US
dc.subject.keywordfund managersen_US
dc.subject.keywordportfolio theoryen_US
dc.subject.stwInvestmentfondsen_US
dc.subject.stwFührungskräfteen_US
dc.subject.stwAnlageverhaltenen_US
dc.subject.stwRisikopräferenzen_US
dc.subject.stwWettbewerben_US
dc.subject.stwEvolutionsökonomiken_US
dc.subject.stwEvolutionärer Algorithmusen_US
dc.subject.stwTheorieen_US
dc.titleFund managers - why the best might be the worst: On the evolutionary vigor of risk-seeking behavioren_US
dc.typeWorking Paperen_US
dc.identifier.ppn666346313en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
dc.identifier.repecRePEc:zbw:bamber:81-
Appears in Collections:BERG Working Paper Series, Universität Bamberg

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