Causes, consequences, and cures of myopic loss aversion - an experimental investigation (2008)
Fellner, Gerlinde, Sutter, Matthias
We examine in an experiment the causes, consequences and possible cures of myopic loss aversion (MLA) for investment behaviour under risk. We find that both, investment horizons and feedback...
Causes, consequences, and cures of myopic loss aversion - an experimental investigation (2008)
Fellner, Gerlinde ; Sutter, Matthias
We examine in an experiment the causes, consequences and possible cures of myopic loss aversion (MLA) for investment behaviour under risk. We find that both, investment horizons and feedback...
Cooperation in local and global groups (2008)
Fellner, Gerlinde, Lünser, Gabriele K.
Multiple group memberships are the rule rather than the exception. Locally operating groups frequently offer the advantage of providing social recognition and higher marginal benefits to the...
Cooperation in local and global groups (2008)
Fellner, Gerlinde; Lünser, Gabriele K.
Multiple group memberships are the rule rather than the exception. Locally operating groups frequently offer the advantage of providing social recognition and higher marginal benefits to the...
Causes, consequences, and cures of myopic loss aversion : An experimental investigation (2008)
Fellner, Gerlinde, Sutter, Matthias
We examine in an experiment the causes, consequences and possible cures of myopic loss aversion (MLA) for investment behaviour under risk. We find that both, investment horizons and feedback...
Task Transcending Satisficing : An Experimental Study (2006)
Fellner, Gerlinde, Güth, Werner, Martin, Ev
The paper explores the applicability of bounded rationality theory. In particular, we investigate whether basic principles of aspiration formation and satisficing behavior are transferable between...
Satisficing or Optimizing? : An Experimental Study (2006)
Fellner, Gerlinde, Güth, Werner, Martin, Ev
This experimental study investigates whether individuals prefer bounded rationality over rational choice theory when facing simple investment tasks. First, participants state some personal parameters...
Causes, consequences, and cures of myopic loss aversion : An experimental investigation (2005)
Fellner, Gerlinde, Sutter, Matthias
Myopic loss aversion (MLA) has been established as one prominent explanation for the equity premium puzzle. In this paper we address two issues related to the effects of MLA on risky investment...
Fellner, Gerlinde, Güth, Werner, Maciejovsky, Boris
In this paper, we apply the bounded rationality approach to an investment situation. In a simple setting where an investor decides between a riskless bond and a risky asset, we distinguish three...
Illusion of control as a source of poor diversification : An experimental approach (2004)
This paper investigates factors influencing individual portfolio allocations with particular focus on the role of illusion of control. By forming their portfolio of two risky lotteries and one...
Experimental studies on investor behavior / (2004)
Jena, University, Diss., 2004.
When the past is present : The ratchet effect in the local commons (2003)
Fellner,Gerlinde, Margreiter,Magdalena, Oses Eraso,Nuria
The indirect evolutionary approach integrates forward-looking evaluation of opportunities and adaptation in the light of the past. Subjective motivation determines behavior, but long-run evolutionary...
The Equity Home Bias : Contrasting an Institutional with a Behavioral Explanation (2003)
Fellner,Gerlinde, Maciejovsky,Boris
An empirically well-established finding is that equity portfolios are concentrated in the domestic equity market of the investor. Previous theoretical and empirical analyses have mainly focused on...
Partner Selection in Public Goods Experiments (2003)
Coricelli,Giorgio, Fehr,Dietmar, Fellner,Gerlinde
This paper studies the e_ect of introducing costly partner selection for the voluntary contribution to a public good. Subjects participate in six sequences of five rounds of a two-person public good...
The Equity Home Bias : Contrasting an Institutional with a Behavioral Explanation (2003)
Fellner, Gerlinde, Maciejovsky, Boris
An empirically well-established finding is that equity portfolios are concentrated in the domestic equity market of the investor. Previous theoretical and empirical analyses have mainly focused on...
Partner Selection in Public Goods Experiments (2003)
Coricelli, Giorgio, Fehr, Dietmar, Fellner, Gerlinde
This paper studies the e_ect of introducing costly partner selection for the voluntary contribution to a public good. Subjects participate in six sequences of five rounds of a two-person public good...
When the past is present : The ratchet effect in the local commons (2003)
Fellner, Gerlinde, Margreiter, Magdalena, Oses Eraso, Nuria
The indirect evolutionary approach integrates forward-looking evaluation of opportunities and adaptation in the light of the past. Subjective motivation determines behavior, but long-run evolutionary...
Partner Selection in Public Goods Experiments (2003)
Giorgio Coricelli, Dietmar Fehr, Gerlinde Fellner, Werner Güth, Anna Gunnthorsdottir, Georg Kirchsteiger, ...
This paper studies the e#ect of introducing costly partner selection for the voluntary contribution to a public good. Subjects participate in six sequences of five rounds of a two-person public good...
Risk attitude and market behavior : evidence from experimental asset markets (2002)
Fellner,Gerlinde, Maciejovsky,Boris
In this paper we relate individual risk attitude as elicited by binary lotteries and certainty equivalents to market behavior. By analyzing 26 independent markets with a total of 280 paticipants we...
Putting limits to emotional behavior : an ultimatum experiment varying threat efficiency (2002)
Threat power is the ability to impose a great loss on someone else at relatively low own cost and can be measured by the ratio of other's and own loss. It can be varied by assuming that rejecting an...
Risk attitude and market behavior : evidence from experimental asset markets (2002)
Fellner, Gerlinde, Maciejovsky, Boris
In this paper we relate individual risk attitude as elicited by binary lotteries and certainty equivalents to market behavior. By analyzing 26 independent markets with a total of 280 paticipants we...
Putting limits to emotional behavior : an ultimatum experiment varying threat efficiency (2002)
Fellner, Gerlinde, Güth, Werner
Threat power is the ability to impose a great loss on someone else at relatively low own cost and can be measured by the ratio of other's and own loss. It can be varied by assuming that rejecting an...
Threat power is the ability to impose a great loss on someone else at relatively low own cost and can be measured by the ratio of other’s and own loss. It can be varied by assuming that rejecting...
Causes, consequences, and cures of myopic loss aversion - An experimental investigation
Gerlinde Fellner, Matthias Sutter
Myopic loss aversion (MLA) has been established as one prominent explanation for the equity premium puzzle. In this paper we address two issues related to the effects of MLA on risky investment...
Gerlinde Fellner, Werner Güth, Boris Maciejovsky
In this paper, we apply the bounded rationality approach to an investment situation. In a simple setting where an investor decides between a riskless bond and a risky asset, we distinguish three...
Causes, consequences, and cures of myopic loss aversion - An experimental investigation
Gerlinde Fellner, Matthias Sutter
Myopic loss aversion (MLA) has been established as one prominent explanation for the equity premium puzzle. In this paper we address two issues related to the effects of MLA on risky investment...
Illusion of control as a source of poor diversification: An experimental approach
This paper investigates factors influencing individual portfolio allocations with particular focus on the role of illusion of control. By forming their portfolio of two risky lotteries and one...
Risk Attitude and Market Behavior: Evidence from Experimental Asset Markets
Gerlinde Fellner, Boris Maciejovsky
In this paperwe relate individual risk attitude as elicited by binary lotteries and certainty equivalents to market behavior. By analyzing 26 independent markets with a total of 280 participants we...
THE EQUITY HOME BIAS: CONTRASTING AN INSTITUTIONAL WITH A BEHAVIORAL EXPLANATION
Gerlinde Fellner, Boris Maciejovsky
An empirically well-established finding is that equity portfolios are concentrated in the domestic equity market of the investor. Previous theoretical and empirical analyses have mainly focused on...
Partner selection in public goods experiments
Giorgio Coricelli, Dietmar Fehr, Gerlinde Fellner
This paper studies the e_ect of introducing costly partner selection for the voluntary contribution to a public good. Subjects participate in six sequences of five rounds of a two-person public good...
Satisficing or Optimizing? - An Experimental Study
Werner Güth, Gerlinde Fellner, Ev Martin
This experimental study investigates whether individuals prefer bounded rationality over rational choice theory when facing simple investment tasks. First, participants state some personal parameters...
Task Transcending Satisficing - An Experimental Study
Werner Güth, Gerlinde Fellner, Ev Martin
The paper explores the applicability of bounded rationality theory. In particular, we investigate whether basic principles of aspiration formation and satisficing behavior are transferable between...
Causes, consequences, and cures of myopic loss aversion - An experimental investigation
Gerlinde Fellner, Matthias Sutter
Myopic loss aversion (MLA) has been established as one prominent explanation for the equity premium puzzle. In this paper we address two issues related to the effects of MLA on risky investment...
Causes, consequences, and cures of myopic loss aversion - An experimental investigation
Gerlinde Fellner, Matthias Sutter
We examine in an experiment the causes, consequences and possible cures of myopic loss aversion (MLA) for investment behaviour under risk. We find that both, investment horizons and feedback...
Causes, consequences, and cures of myopic loss aversion - An experimental investigation
Gerlinde Fellner, Matthias Sutter
We examine in an experiment the causes, consequences and possible cures of myopic loss aversion (MLA) for investment behaviour under risk. We find that both, investment horizons and feedback...
Causes, consequences, and cures of myopic loss aversion - An experimental investigation
Gerlinde Fellner, Matthias Sutter
We examine in an experiment the causes, consequences and possible cures of myopic loss aversion (MLA) for investment behaviour under risk. We find that both, investment horizons and feedback...
Partner Selection in Public Goods Experiments
Coricelli, Giorgio, Fehr, Dietmar, Fellner, Gerlinde
This paper studies the effect of introducing costly partner selection for the voluntary contribution to a public good. Subjects participate in six sequences of five rounds of a two-person public good...
Illusion of Expertise in Portfolio Decisions - An Experimental Approach -
Gerlinde Fellner, Werner Güth, Boris Maciejovsky
Overall, 72 subjects invest their endowment in four risky assets. Each combination of assets yields the same expected return and variance of returns. Illusion of expertise prevails when one prefers...
Putting Limits to Emotional Behavior - An Ultimatum Experiment Varying Threat Efficiency
Ultimatum bargaining, fairness, punishment, emotions, threat efficiency
When the past is present – The ratchet effect in the local commons
Gerlinde Fellner, Magdalena Margreiter, Nuria Oses Eraso
The indirect evolutionary approach integrates forward-looking evaluation of opportunities and adaptation in the light of the past. Subjective motivation determines behavior, but long-run evolutionary...
Short Sale Constraints, Divergence of Opinion and Asset Values: Evidence from the Laboratory
Gerlinde Fellner, Erik Theissen
The overvaluation hypothesis (Miller 1977) predicts that a) stocks are overvalued when there are short selling restrictions and that b) the overvaluation is increasing in the degree of divergence of...
Cooperation in local and global groups
Gerlinde Fellner, Gabriele K. Lünser
Multiple group memberships are the rule rather than the exception. Locally operating groups frequently offer the advantage of providing social recognition and higher marginal benefits to the...
Causes, Consequences, and Cures of Myopic Loss Aversion - An Experimental Investigation
Gerlinde Fellner, Matthias Sutter
We use an experiment to examine the causes, consequences and possible cures of myopic loss aversion (MLA) for investment behaviour under risk. We find that both investment horizons and feedback...
Illusion of Expertise in Portfolio Decisions -- An Experimental Approach
Fellner, Gerlinde, Gueth, Werner, Maciejovsky, Boris
Overall, 72 subjects invest their endowment in four risky assets. Each com-bination of assets yields the same expected return and variance of returns. Illusion of expertise prevails when one prefers...
Testing Enforcement Strategies in the Field: Legal Threat, Moral Appeal and Social Information
Gerlinde Fellner, Rupert Sausgruber, Christian Traxler
We run a large-scale natural field experiment to evaluate alternative strategies to enforce compliance with the law. The experiment varies the text of mailings sent to potential evaders of TV license...
Testing Enforcement Strategies in the Field: Legal Threat, Moral Appeal and Social Information
Gerlinde Fellner, Rupert Sausgruber, Christian Traxler
We run a large-scale natural field experiment to evaluate alternative strategies to enforce compliance with the law. The experiment varies the text of mailings sent to potential evaders of TV license...
Testing Enforcement Strategies in the Field: Legal Threat, Moral Appeal and Social Information
Gerlinde Fellner, Rupert Sausgruber, Christian Traxler
We run a large-scale natural field experiment to evaluate alternative strategies to en- force compliance with the law. The experiment varies the text of mailings sent to potential evaders of TV...