Risk Presentation and Portfolio Choice
作者： Stephen Satchell , Susan Thorp , Hazel Bateman , Christine Eckert , John Geweke
DOI: 10.1093/ROF/RFV001
关键词:
摘要: Efficient investment of personal savings depends on clear risk disclosures. We study the propensity individuals to violate some implications expected utility under alternative "mass-market" descriptions risk, using a discrete choice experiment. found violations in around 25% choices, and substantial variation rates violation, depending mode disclosure participants’ characteristics. When is described as frequency returns below or above threshold we observe more than for range probability-based descriptions. Innumerate are likely those with high numeracy. Apart from very elderly, older less restrictions. The results highlight challenges regulation.
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