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Measuring risk-taking and patience in financial decision making
Review of Financial Economics Pub Date : 2021-07-23 , DOI: 10.1002/rfe.1142
Wolfgang Breuer 1 , Thomas Renerken 1 , Astrid Juliane Salzmann 2
Affiliation  

We empirically compared the consistency among different kinds of measures for risk-taking and patience in a survey and an experiment. We evaluated how these variables relate to financial decisions, using a novel set of easy-to-apply survey questions as proxy. The main finding is that our results based on the novel survey questions describing financial behavior and on lifelike financial behavior in the laboratory are very similar. Therefore, relatively low-cost elicitation measures may be used to forecast decision making, which, in turn, may be described by our novel set of survey questions.

中文翻译:

衡量财务决策中的风险承担和耐心

我们在一项调查和一项实验中经验性地比较了不同类型的风险承担和耐心措施之间的一致性。我们使用一组新的易于应用的调查问题作为代理,评估了这些变量与财务决策的关系。主要发现是,我们基于描述财务行为的新颖调查问题和实验室中逼真的财务行为的结果非常相似。因此,可以使用相对低成本的启发措施来预测决策,而这反过来又可以通过我们的一组新颖的调查问题来描述。
更新日期:2021-07-23
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