Weber, Martin and Camerer, Colin F. (1992) Ein Experiment zum Anlegerverhalten. Schmalenbachs Zeitschrift für betriebswirtschaftliche Forschung, 44 . pp. 131-148. ISSN 0341-2687. https://resolver.caltech.edu/CaltechAUTHORS:20110214-104546410
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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.
| Item Type: | Article | ||||
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| Record Number: | CaltechAUTHORS:20110214-104546410 | ||||
| Persistent URL: | https://resolver.caltech.edu/CaltechAUTHORS:20110214-104546410 | ||||
| Usage Policy: | No commercial reproduction, distribution, display or performance rights in this work are provided. | ||||
| ID Code: | 22169 | ||||
| Collection: | CaltechAUTHORS | ||||
| Deposited By: | Tony Diaz | ||||
| Deposited On: | 09 Nov 2011 23:48 | ||||
| Last Modified: | 03 Oct 2019 02:35 |
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