期刊名称：Discussion Paper Series / Universität Heidelberg, Department of Economics
出版年度：2012
卷号：2012
出版社：Universität Heidelberg, Department of Economics
摘要：Advice is important for decision making, especially in the financial sec-tor. We investigate how individuals assess risk preferences of others givensociodemographic information or pictures. Both non-professionals andfinancial professionals participate in this artefactual field experiment.Subjects mainly rely on the other's self-assessment of risk preferencesand on gender when forming the belief about someone else's risk prefer-ences. On average, subjects consider themselves to be more risk-tolerantthan the person they evaluate. Subjects use their own risk attitude asa reference point for predicting others' risk preferences. This false con-sensus e.ect is less pronounced for young professionals than for seniorand non-professionals. Furthermore, financial professionals predict riskpreferences more accurately compared to non-professionals
关键词：Risk Preferences; Financial Advice; Artefactual Field Experiment; Behavioral;Finance
