Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/234838
Authors: 
Gutsche, Gunnar
Wetzel, Heike
Ziegler, Andreas
Year of Publication: 
2020
Series/Report no.: 
MAGKS Joint Discussion Paper Series in Economics No. 33-2020
Publisher: 
Philipps-University Marburg, School of Business and Economics, Marburg
Abstract: 
This paper employs a new empirical approach for eliciting preferences for and determinants of sustainable investments at the individual investor level. We examine data from an incentivized framed field experiment that was part of a representative survey among financial decision makers in German households. The analysis reveals strong preferences for sustainable funds. These preferences are especially driven by non-pecuniary factors such as financial literacy, environmental values, and social norms. Interestingly, economic preferences or the Big Five personality traits are only of minor relevance. Our results provide useful implications for the discussion on how to mobilize individual investors for sustainable development.
Subjects: 
Sustainable investments
individual investors
determinants
revealed preferences
framed field experiment
JEL: 
G11
Q56
G02
A12
A13
Document Type: 
Working Paper

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