publication . Article . 1992

Ein Experiment zum Anlegerverhalten

Weber, Martin; Camerer, Colin F.;
Open Access
  • Published: 01 Feb 1992
  • Publisher: Westdeutscher Verlag
  • Country: United States
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.
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Article . 1992
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