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Priming the Risk Attitudes of Professionals in Financial Decision Making

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Author Info

  • Dalia Gilad
  • Doron Kliger

Abstract

We 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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File URL: http://hdl.handle.net/10.1093/rof/rfm034
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Bibliographic Info

Article provided by European Finance Association in its journal Review of Finance.

Volume (Year): 12 (2008)
Issue (Month): 3 ()
Pages: 567-586

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Handle: RePEc:oup:revfin:v:12:y:2008:i:3:p:567-586

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Cited by:
  1. Vanessa Mertins & Susanne Warning, 2013. "Gender Differences in Responsiveness to a Homo Economicus Prime in the Gift-Exchange Game," IAAEU Discussion Papers 201309, Institute of Labour Law and Industrial Relations in the European Union (IAAEU).
  2. Kliger, Doron & Levy, Ori, 2009. "Theories of choice under risk: Insights from financial markets," Journal of Economic Behavior & Organization, Elsevier, vol. 71(2), pages 330-346, August.
  3. Boschini, Anne & Muren, Astri & Persson, Mats, 2009. "Constructing Gender in the Economics Lab," Research Papers in Economics 2009:15, Stockholm University, Department of Economics.
  4. Kliger, Doron & Gilad, Dalia, 2012. "Red light, green light: Color priming in financial decisions," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 41(5), pages 738-745.

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