| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP8334 |
| DP8334 The role of intuition and reasoning in driving aversion to risk and ambiguity | |
| Luigi Guiso; Tullio Jappelli; Jeff Butler | |
| 发表日期 | 2011-04-01 |
| 出版年 | 2011 |
| 语种 | 英语 |
| 摘要 | Using a large sample of retail investors as well as experimental data we find that risk and ambiguity aversion are positively correlated. We show the common link is decision style: intuitive thinkers tolerate more risk and ambiguity than effortful reasoners. One interpretation is that intuitive thinking confers an advantage in risky or ambiguous situations. We present supporting lab and field evidence that intuitive thinkers outperform others in uncertain environments. Finally, we find that risk and ambiguity aversion vary with individual characteristics and wealth. The wealthy are less risk averse but more ambiguity averse, which has implications for financial puzzles. |
| 主题 | Financial Economics |
| 关键词 | Risk aversion Risk ambiguity Decision theory Dual systems Intuitive thinking |
| URL | https://cepr.org/publications/dp8334 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/537161 |
| 推荐引用方式 GB/T 7714 | Luigi Guiso,Tullio Jappelli,Jeff Butler. DP8334 The role of intuition and reasoning in driving aversion to risk and ambiguity. 2011. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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