Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/238264 
Erscheinungsjahr: 
2021
Schriftenreihe/Nr.: 
Working Papers in Economics and Statistics No. 2021-06
Verlag: 
University of Innsbruck, Research Platform Empirical and Experimental Economics (eeecon), Innsbruck
Zusammenfassung: 
We investigate how volatility shocks affect investors' risk-taking, risk perception and forecasts. We run artefactual field experiments with two participant pools (finance professionals and students), differing in (i) the direction of the shock (down, up, or a neutral case) and (ii) the presentation format of the time series (prices or returns). ProfessionalsÕ investments are negatively associated with the price change and performance of the stock and their perceived risk increases to a similar extent following shocks of all directions. Students' risk perception, in contrast, is more closely related to the frequency of negative returns rather than an increase in volatility.
Schlagwörter: 
Risk perception
experimental finance
finance professionals
volatility shocks
JEL: 
C91
G11
G41
Dokumentart: 
Working Paper

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