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Cited by 282

The DOI matches its Crossref record; 29 of the 29 references it cites were found in a registry or an index.

PORTFOLIO CHOICE AND RISK ATTITUDES: AN EXPERIMENT

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CHARNESS, GARY, GNEEZY, URI·2010·Economic Inquiry
DOI 10.1111/j.1465-7295.2009.00219.x
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Abstract

Using financial incentives, we study how portfolio choice (how much to invest in a risky asset) depends on three well‐known behavioral phenomena: ambiguity aversion, the illusion of control, and myopic loss aversion. We find evidence that these phenomena are present and test how the level of investment is affected by these motivations; at the same time, we investigate whether participants are willing to explicitly pay a small sum of money to indulge preferences for less ambiguity, more control, or more frequent feedback/opportunities to choose the investment level. First, the observed preference for “control” did not affect investment behavior and in fact disappeared when participants were asked to actually pay to gain more control. Second, while people were indeed willing to pay for less ambiguity, the level of ambiguity did not influence investment levels. Finally, participants were willing to pay to have more frequent feedback opportunities to change their portfolio, even though prior research has shown that people invest less in risky assets (and earn less) in this case. (JEL B49, C91, D81, G11, G19)

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Metadata

Authors
CHARNESS, G., & GNEEZY, U.
Venue
Economic Inquiry
Publisher
Wiley
Published
2010-01
Volume
48
Issue
1
Pages
133-146
ISSN
  • 0043-3640 (ISSN-L)
  • 0095-2583
  • 1465-7295
DOI
10.1111/j.1465-7295.2009.00219.x
OpenAlex
W3123773959
Cited by
282
References
29
FWCI
12.28
Type
journal article
Language
en
Open access
green

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CoChat. (2026). Citation check: PORTFOLIO CHOICE AND RISK ATTITUDES: AN EXPERIMENT. https://app.cochat.ai/papers/10.1111/j.1465-7295.2009.00219.x
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CHARNESS, G., & GNEEZY, U. (2010). PORTFOLIO CHOICE AND RISK ATTITUDES: AN EXPERIMENT. Economic Inquiry. https://doi.org/10.1111/j.1465-7295.2009.00219.x

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