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dc.contributor.authorWitte, Björn-Christopheren
dc.date.accessioned2011-08-18-
dc.date.accessioned2011-10-06T14:08:18Z-
dc.date.available2011-10-06T14:08:18Z-
dc.date.issued2011-
dc.identifier.isbn978-3-931052-91-1en
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
dc.language.isoengen
dc.publisher|aBamberg University, Bamberg Economic Research Group on Government and Growth (BERG) |cBambergen
dc.relation.ispartofseries|aBERG Working Paper Series on Government and Growth |x81en
dc.subject.jelC73en
dc.subject.jelD81en
dc.subject.jelG11en
dc.subject.jelG24en
dc.subject.ddc330en
dc.subject.keywordrisk preferencesen
dc.subject.keywordcompetitionen
dc.subject.keywordgenetic programmingen
dc.subject.keywordfund managersen
dc.subject.keywordportfolio theoryen
dc.subject.stwInvestmentfondsen
dc.subject.stwFührungskräfteen
dc.subject.stwAnlageverhaltenen
dc.subject.stwRisikopräferenzen
dc.subject.stwWettbewerben
dc.subject.stwEvolutionsökonomiken
dc.subject.stwEvolutionärer Algorithmusen
dc.subject.stwTheorieen
dc.titleFund managers - why the best might be the worst: On the evolutionary vigor of risk-seeking behavior-
dc.typeWorking Paperen
dc.identifier.ppn666346313en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:bamber:81en

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