Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/62331
Authors: 
Leuermann, Andrea
Roth, Benjamin
Year of Publication: 
2012
Series/Report no.: 
SOEPpapers on Multidisciplinary Panel Data Research 474
Abstract: 
Recent studies have found correlations between risk attitudes and several sociodemographic characteristics. In this paper, we deploy an artefactual field experiment and study whether subjects - non-professionals and -financial professionals - are aware of these correlations. This is largely confirmed 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: 
C91
D81
G02
Document Type: 
Working Paper

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