Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/127346 
Year of Publication: 
2012
Series/Report no.: 
Discussion Paper Series No. 533
Publisher: 
University of Heidelberg, Department of Economics, Heidelberg
Abstract: 
Recent studies have found correlations between risk attitudes and several sociodemographic characteristics. In this paper, we deploy an artefactual fi eld experiment and study whether subjects - non-professionals and financial professionals - are aware of these correlations. This is largely confi rmed by our results for all subject groups. We show that the subjects attach informational value to sociodemographic information when assessing others' risk attitudes. This provides external validity to the correlations found between risk preferences and sociodemographics. A person's self-assessment of risk attitudes is the most helpful device for the subjects' assessments of others, although experienced professionals make use of it to a minor extent than all other subjects.
Subjects: 
Risk Preferences
Financial Advice
Artefactual Field Experiment
Behavioral Finance
JEL: 
G02
D81
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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