Original paper
How Experience Sampling Affects Risk Taking Behavior in Financial Product Choices
Abstract
We apply a new and innovative approach to communicating risks associated with financial products that should support investors in making better investment decisions. In our experiments, participants are able to gain “simulated experience” by random sampling of a previously described return distribution. We find that simulated experience considerably improves participants’ understanding of the underlying risk-return profile and prompts them to...
Paper Details
Title
How Experience Sampling Affects Risk Taking Behavior in Financial Product Choices
Published Date
Jan 1, 2012
Journal
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Notes
History