Priming the Risk Attitudes of Professionals in Financial Decision Making
AbstractWe explore the influence of priming on financial decisions by reinforcing subjects' risk-seeking behavior under uncertainty and comparing it to behavior in control groups. We focused on professionals: commercial banks' investment advisors and accountants in CPA firms. Results indicate that priming affects subjects' risk attitudes and investment decisions. Professionals' decisions were affected more than undergraduates', suggesting they employ a more intuitive and less analytic approach in making their decisions. Our work is related to field-data research documenting correlations between returns (investors' decisions) and situational factors, (i.e., weather) by suggesting controlled tests of professionals' behavior vis-a-vis the complexity inherent in field data. Copyright 2008, Oxford University Press.
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Bibliographic InfoArticle provided by European Finance Association in its journal Review of Finance.
Volume (Year): 12 (2008)
Issue (Month): 3 ()
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