Stereotypes and false consensus

• Verfasst von: Roth, Benjamin [VerfasserIn]
• Verfasst von: Voskort, Andrea [VerfasserIn]
• Titel: Stereotypes and false consensus
• Titelzusatz: how financial professionals predict risk preferences
• Verf.angabe: Benjamin Roth, Andrea Voskort
• E-Jahr: 2014
• Jahr: 13 June 2014
• Umfang: 13 S.
• Fussnoten: Gesehen am 18.08.2020
• Titel Quelle: Enthalten in: Journal of economic behavior & organization
• Ort Quelle: Amsterdam [u.a.] : Elsevier, 1980
• Jahr Quelle: 2014
• Band/Heft Quelle: 107(2014), Seite 553-565
• ISSN Quelle: 1879-1751
• ISSN Quelle: 0167-2681
• DOI: doi:10.1016/j.jebo.2014.05.006
• Datenträger: Online-Ressource
• Sprache: eng
• Sach-SW: Artefactual field experiment
• Sach-SW: Behavioral finance
• Sach-SW: Financial advice
• Sach-SW: Risk preferences
• K10plus-PPN: 1727326121

Abstract

We analyze the prediction of risk preferences of others using an artefactual field experiment with financial professionals and students. For their prediction, the subjects receive information on multiple demographic characteristics and a self-assessment of risk taking of the target. When analyzing the predictions we find three significant effects: subjects use the demographic information for stereotyping as well as the target's self-assessment on risk taking, and we find a considerable false consensus effect. The false consensus effect is the strongest for experienced professionals. Regarding the prediction's accuracy, we find that the forecasts of the professionals are more accurate than the forecasts of the students.