Published February 1992 | Version Published
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Ein Experiment zum Anlegerverhalten

Abstract

Portfolio selection is one important example of decision making under risk. We empirically investigate how decision makers behave when making these decisions, As a baseline we compare this intuitive decision making with the optimal decision making described by Markowitz' portfolio theory. Our results show that intuitive behavior is quite different from optimal behavior. Especially, subjects did not hold the optimal risky portfolio and they trade much more than predicted by portfolio theory.

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Eprint ID
22169
Resolver ID
CaltechAUTHORS:20110214-104546410

Dates

Created
2011-11-09
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Updated
2019-10-03
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