Details
| Originalsprache | Englisch |
|---|---|
| Fachzeitschrift | Journal of Behavioral Finance |
| Publikationsstatus | Elektronisch veröffentlicht (E-Pub) - 13 Nov. 2024 |
Abstract
We extend the literature on emotions and financial decisions by varying the agent (private investor, fund manager, delegation to a fund manager) in an investment experiment. We additionally vary the decision situation (buy or sell) and the shape of displayed price paths (convex, concave, or straight). We measure the investment behavior and the emotional valence evoked by the price paths. Independent of the type of agent, we confirm that price path shapes are related to investment behavior and emotions. In particular, concave shapes are associated with lower investments and valence. Finally, we provide evidence for a mediating role of valence.
ASJC Scopus Sachgebiete
- Psychologie (insg.)
- Experimentelle und kognitive Psychologie
- Volkswirtschaftslehre, Ökonometrie und Finanzen (insg.)
- Finanzwesen
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in: Journal of Behavioral Finance, 13.11.2024.
Publikation: Beitrag in Fachzeitschrift › Artikel › Forschung › Peer-Review
}
TY - JOUR
T1 - Effects of price path shapes and decision frames on emotions and investment decisions
T2 - Experimental evidence
AU - Cordes, Henning
AU - Decke, Philipp
AU - Nolte, Sven
AU - Schneider, Judith C.
N1 - Publisher Copyright: © 2024 The Author(s). Published with license by Taylor & Francis Group, LLC.
PY - 2024/11/13
Y1 - 2024/11/13
N2 - We extend the literature on emotions and financial decisions by varying the agent (private investor, fund manager, delegation to a fund manager) in an investment experiment. We additionally vary the decision situation (buy or sell) and the shape of displayed price paths (convex, concave, or straight). We measure the investment behavior and the emotional valence evoked by the price paths. Independent of the type of agent, we confirm that price path shapes are related to investment behavior and emotions. In particular, concave shapes are associated with lower investments and valence. Finally, we provide evidence for a mediating role of valence.
AB - We extend the literature on emotions and financial decisions by varying the agent (private investor, fund manager, delegation to a fund manager) in an investment experiment. We additionally vary the decision situation (buy or sell) and the shape of displayed price paths (convex, concave, or straight). We measure the investment behavior and the emotional valence evoked by the price paths. Independent of the type of agent, we confirm that price path shapes are related to investment behavior and emotions. In particular, concave shapes are associated with lower investments and valence. Finally, we provide evidence for a mediating role of valence.
KW - delegated decisions
KW - emotions
KW - Framing
KW - investment decisions
KW - portfolio choice
UR - http://www.scopus.com/inward/record.url?scp=85209682012&partnerID=8YFLogxK
U2 - 10.1080/15427560.2024.2413048
DO - 10.1080/15427560.2024.2413048
M3 - Article
AN - SCOPUS:85209682012
JO - Journal of Behavioral Finance
JF - Journal of Behavioral Finance
SN - 1542-7560
ER -