Original paper
The effect of early and salient investment experiences on subsequent asset allocations—An experimental study
Abstract
In two experiments on sequential asset allocation decisions between a safe and a risky asset, we find that an early market crash leads subjects to invest less in a risky asset in later periods, a result that is mediated by gender. In the first experiment subjects who experience a market bust early in the investment lifecycle invest less in a risky asset compared to subjects who experience a market boom, even when the subjects receive the exact...
Paper Details
Title
The effect of early and salient investment experiences on subsequent asset allocations—An experimental study
Published Date
Sep 1, 2018
Volume
19
Pages
1 - 19
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