| |  Online-Ressource |
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| Verfasst von: | König-Kersting, Christian [VerfasserIn]  |
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| | Pollmann, Monique [VerfasserIn] |
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| | Potters, Jan [VerfasserIn] |
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| | Trautmann, Stefan T. [VerfasserIn] |
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| Titel: | Good decision vs. good results |
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| Titelzusatz: | outcome bias in the evaluation of financial agents |
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| Verf.angabe: | Christian König-Kersting, Monique Pollmann, Jan Potters, Stefan T. Trautmann |
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| Jahr: | 2021 |
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| Umfang: | 31 S. |
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| Fussnoten: | Published: 17 September 2020 ; Gesehen am 11.11.2020 |
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| Titel Quelle: | Enthalten in: Theory and decision |
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| Ort Quelle: | Dordrecht [u.a.] : Springer Science + Business Media B.V., 1970 |
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| Jahr Quelle: | 2021 |
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| Band/Heft Quelle: | 90(2021), 1 vom: Feb., Seite 31-61 |
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| ISSN Quelle: | 1573-7187 |
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| Abstract: | We document outcome bias in situations where an agent makes risky financial decisions for a principal. In three experiments, we show that the principal’s evaluations and financial rewards for the agent are strongly affected by the random outcome of the risky investment. This happens despite her exact knowledge of the investment strategy, which can, therefore, be assessed independently of the outcome. The principal thus judges the same decision by the agent differently, depending on factors that the agent has no influence on. The effect of outcomes persists in a setting where principals communicate a preferred investment level. Principals are more satisfied with the agent after a random success when the agent did not follow the requested investment level, than after a failed investment that followed their explicit request. |
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| DOI: | doi:10.1007/s11238-020-09773-1 |
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| URL: | kostenfrei: Verlag: https://link.springer.com/content/pdf/10.1007/s11238-020-09773-1.pdf |
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| | kostenfrei: Resolving-System: https://doi.org/10.1007/s11238-020-09773-1 |
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| | DOI: https://doi.org/10.1007/s11238-020-09773-1 |
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| Datenträger: | Online-Ressource |
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| Sprache: | eng |
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| Bibliogr. Hinweis: | Forschungsdaten: König-Kersting, Christian, 1989 - : Good decision vs. good results |
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| Sach-SW: | Decision under risk |
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| | Decisions of agents |
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| | Accountability |
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| | Outcome bias |
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| | Financial advice |
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| Form-SW: | Aufsatz in Zeitschrift |
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| K10plus-PPN: | 1738435296 |
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| Verknüpfungen: | → Zeitschrift |
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| Lokale URL UB: |  Zum Volltext |
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Good decision vs. good results / König-Kersting, Christian [VerfasserIn]; 2021 (Online-Ressource)
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