Does Experiencing a Crash Make All the Difference? An Experiment on the Depression Babies Hypothesis
Abstract
Do people who lived through the depression take fewer financial risks because of the negative returns experienced? More generally, what is the importance of historical return streams on current investment decisions? This experiment tests this experience hypothesis and finds that subjects who experience a great crash hold, on average, 6% less of their assets in stocks than subjects who did not experience the crash, after controlling for gender,...
Paper Details
Title
Does Experiencing a Crash Make All the Difference? An Experiment on the Depression Babies Hypothesis
Published Date
Apr 1, 2018
Journal
Volume
8
Issue
2
Pages
215824401877873 - 215824401877873
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