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Displaying results 1 to 10 of 10.

  1. Peer effects and risk sharing in experimental asset markets
    Author: Gortner, Paul; Weele, Joël J. van der
    Published: [2019]
    Publisher:  Tinbergen Institute, Amsterdam, The Netherlands

    We investigate the effect of introducing information about peer portfolios in an experimental Arrow-Debreu economy. Confirming the prediction of a general equilibrium model with inequality averse preferences, we find that peer information leads to... more

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    We investigate the effect of introducing information about peer portfolios in an experimental Arrow-Debreu economy. Confirming the prediction of a general equilibrium model with inequality averse preferences, we find that peer information leads to reduced variation in payoffs within peer groups. Information also improves risk sharing, as the data suggests that experiencing earnings deviations from peers induces a shift to more balanced portfolios. In a treatment where we highlight the highest earner, we observe a reduction in risk sharing, while highlighting the lowest earner has no effects compared to providing neutral information. Our results indicate that the presence of social information and its framing is an important determinant of equilibrium in financial markets.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/205317
    Series: Array ; TI 2019, 027
    Subjects: peer effects; laboratory experiments; risk taking; asset markets
    Scope: 1 Online-Ressource (circa 37 Seiten), Illustrationen
  2. Ownership, wealth, and risk taking
    evidence on private equity fund managers
    Author: Thorburn, Karin S.; Bienz, Carsten; Walz, Uwe
    Published: 21 August 2019
    Publisher:  Centre for Economic Policy Research, London

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    Location:
    Universitätsbibliothek Mannheim
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Array ; DP13944
    Subjects: Private equity; buyouts; incentives; general partner; ownership; risk taking; wealth
    Scope: 1 Online-Ressource (circa 36 Seiten)
  3. Profit taxation and bank risk taking
    Author: Kogler, Michael
    Published: 2019
    Publisher:  School of Economics and Political Science, Department of Economics, University of St.Gallen, St. Gallen

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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Discussion paper / University of St.Gallen, School of Economics and Political Science, Department of Economics ; no. 2019, 18 (December 2019)
    Subjects: Corporate taxation; tax reform; banking; risk taking; financial stability
    Scope: 1 Online-Ressource (circa 58 Seiten), Illustrationen
  4. Follow the leader?
    a field experiment on social influence
    Author: Ambler, Kate; Godlonton, Susan; Recalde, María P.
    Published: 2019
    Publisher:  Williams College : Economics, Williamstown, MA, USA

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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Williams College Economics Department working paper series ; 2019, 24
    Subjects: peer effects; risk taking; lab-in-the-field; agriculture; Malawi
    Scope: 1 Online-Ressource (circa 94 Seiten), Illustrationen
  5. Do attitudes toward risk taking affect entrepreneurship?
    evidence from second-generation Americans
    Author: Chanda, Areendam; Unel, Bulent
    Published: November 14, 2019
    Publisher:  Department of Economics, Louisiana State University, Baton Rouge, LA

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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Department of Economics working paper series / LSU, E.J. Ourso College of Business, Department of Economics ; Working paper 2019, 07
    Subjects: Entrepreneurship; immigrants; second-generation Americans; risk taking; preference measures; occupational choice; comparative development
    Scope: 1 Online-Ressource (circa 39 Seiten), Illustrationen
  6. Profit taxation and bank risk taking
    Author: Kogler, Michael
    Published: February 12, 2019
    Publisher:  Verein für Socialpolitik, [Leipzig]

    How can tax policy improve financial stability? Recent studies point to large potential stability gains from a reform that eliminates the debt bias in corporate taxation. Such a reform reduces bank leverage. This paper emphasizes a novel,... more

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    How can tax policy improve financial stability? Recent studies point to large potential stability gains from a reform that eliminates the debt bias in corporate taxation. Such a reform reduces bank leverage. This paper emphasizes a novel, complementary channel: bank risk taking. We model the portfolio choice of banks under moral hazard and thereby highlight the ‘incentive function’ of equity. The corporate income tax influences risk-taking incentives through the cost of equity relative to deposits, the after-tax returns on different portfolios, and future bank profits. The analysis yields two novel findings: A tax reform which eliminates the debt bias discourages risk taking and reduces bank failure risk. Raising the corporate tax rate can also reduce risk taking in the short run, but permanent tax hikes have destabilizing long-term effects.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/203533
    Series: Array ; Array
    Subjects: Corporate taxation; tax reform; risk taking; financial stability
    Scope: 1 Online-Ressource (circa 43 Seiten), Illustrationen
  7. Deposit insurance, market discipline and bank risk
    Author: Karas, Alexei; Pyle, William; Schoors, Koen
    Published: 2019
    Publisher:  Ghent University, Faculty of Economics and Business Administration, Ghent

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Working paper / Faculty of Economics and Business Administration ; 953 (2019)
    Subjects: deposit insurance; market discipline; moral hazard; risk taking; banks; Russia
    Scope: 1 Online-Ressource (circa 26 Seiten), Illustrationen
  8. Can gender quotas prevent risky choice shifts?
    the effect of gender composition on group decisions under risk
    Author: Lima de Miranda, Katharina; Detlefsen, Lena; Schmidt, Ulrich
    Published: 07/2019
    Publisher:  Kiel Institute for the World Economy, [Kiel]

    This study contributes to the public debate on gender quotas and the literature on gender and risk taking by analysing how the level of risk taking within a group is influenced by its gender composition. In particular we look at the shift of risk... more

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    Leibniz-Institut für Wirtschaftsforschung Halle, Bibliothek
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    This study contributes to the public debate on gender quotas and the literature on gender and risk taking by analysing how the level of risk taking within a group is influenced by its gender composition. In particular we look at the shift of risk taking between group and individual decisions and analyse to which extent this shift depends on the gender composition. We derive a gender-specific polarization hypothesis which states that compared to individual preferences, male dominated groups will shift towards higher risk taking than female dominated ones. Our experimental tests reveal a systematic impact of gender composition on group shifts which supports our hypothesis and points into the direction that a higher share of females may prevent excessive risk taking.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/201009
    Series: Kiel working paper ; no. 2135 (July 2019)
    Subjects: risky shift; risk taking; group decisions; gender; monetary incentives
    Scope: 1 Online-Ressource (circa 30 Seiten), Illustrationen
  9. Asset integration, risk taking and loss aversion in the laboratory
    Author: Morrison, William G.; Oxoby, Robert J.
    Published: March 2019
    Publisher:  IZA - Institute of Labor Economics, Bonn, Germany

    We report on a laboratory experiment testing for the presence of loss aversion, as separate from risk aversion, utilizing an asset integration protocol designed to ensure that a loss of cash provided by the experimenter is viewed as a real loss by... more

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    We report on a laboratory experiment testing for the presence of loss aversion, as separate from risk aversion, utilizing an asset integration protocol designed to ensure that a loss of cash provided by the experimenter is viewed as a real loss by experimental participants. Our experimental design augments the Holt-Laury risk preference elicitation methodology to assess how individuals choose between a safe option and a riskier lottery. When the money at stake is viewed as the individual's own money, one of the lottery outcomes is in the domain of losses. Our results confirm that individuals display an additional reluctance to participate in a mixed domain lottery beyond that predicted by risk aversion. We show that only preference functions incorporating loss aversion are able to generate predicted behaviour that matches our results.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/196766
    Series: Discussion paper series / IZA ; no. 12268
    Subjects: risk taking; experiments
    Scope: 1 Online-Ressource (circa 28 Seiten), Illustrationen
  10. Deposit insurance, market discipline and bank risk
    Author: Karas, Alexei; Pyle, William; Schoors, Koen
    Published: 2019
    Publisher:  Bank of Finland, BOFIT Institute for Economies in Transition, Helsinki

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    Source: Union catalogues
    Language: English
    Media type: Ebook
    Format: Online
    ISBN: 9789523232754
    Other identifier:
    hdl: 10419/212918
    Series: BOFIT discussion papers ; 2019, 10
    Subjects: deposit insurance; market discipline; moral hazard; risk taking; banks; Russia
    Scope: 1 Online-Ressource (circa 28 Seiten), Illustrationen