| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP13737 |
| DP13737 How to Alleviate Correlation Neglect | |
| Martin Weber; Christine Laudenbach; Michael Ungeheuer | |
| 发表日期 | 2019-05-15 |
| 出版年 | 2019 |
| 语种 | 英语 |
| 摘要 | We experimentally study how presentation formats for return distributions affect investors' diversification choices. We find that sampling returns alleviates correlationneglect and constitutes an effective way to improve financial decisions. When participants get a description of probabilities for outcomes of the joint return distribution, we confirm the common finding that investors neglect the correlation between assets in their diversification choices. However, when participants sample from the joint distribution, they incorporate correlation into choices as predicted by normative theory. Results are robust across three experiments with varying expertise and experience of participants (students vs. investors), and varying return distributions (discrete, continuous). |
| 主题 | Financial Economics |
| 关键词 | Investment decisions Diversification Correlation neglect Risk taking Fintech |
| URL | https://cepr.org/publications/dp13737 |
| 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/542601 |
| 推荐引用方式 GB/T 7714 | Martin Weber,Christine Laudenbach,Michael Ungeheuer. DP13737 How to Alleviate Correlation Neglect. 2019. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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