IDEAS home Printed from https://ideas.repec.org/a/ole/journl/v12y2017i1p21-36.html
   My bibliography  Save this article

Transformation Of Beliefs: An Evaluation Of Economic Risk Under Uncertainty

Author

Listed:
  • Adam Sliwinski

    (Risk and Insurance Department Institute of Banking and Insurance Warsaw School of Economics)

  • Liubov Klapkiv

    (Insurance Department Faculty of Economics Maria Curie Sklodowska University in Lublin)

Abstract

This paper presents the results of a study of the risk-taking behavior of investors in some Eastern European countries in the post-soviet period. A unique transformation processes in society at the transition from the 20th to the 21st century caused the value of this point of view. Individual risk philosophy was on the way to being built under the factors of a changing society from command (full regulation of the environment) to a free market relationship. We investigate the influence of heuristics on the awareness of subjective risk evaluation in the case of a “sollective” investment activity in a trust company, MMM in 1994. The study confirms the biasin human behavior in the case of a high–risk situation. Some results, such as the influence of educational level on risk and reduced income values in terms of absolute growth, contradict the previous findings.

Suggested Citation

  • Adam Sliwinski & Liubov Klapkiv, 2017. "Transformation Of Beliefs: An Evaluation Of Economic Risk Under Uncertainty," OLSZTYN ECONOMIC JOURNAL, University of Warmia and Mazury in Olsztyn, Faculty of Economic Sciences, vol. 12(1), pages 21-36, February.
    • Handle: RePEc:ole:journl:v:12:y:2017:i:1:p:21-36
    as

    Download full text from publisher

    File URL: http://www.uwm.edu.pl/wne/podstrony/oej1/wydania/eko12_17_1.pdf
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    risk decision; uncertainty; investment; trust company; post-communism;
    All these keywords.

    JEL classification:

    • A1 - General Economics and Teaching - - General Economics
    • E0 - Macroeconomics and Monetary Economics - - General

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ole:journl:v:12:y:2017:i:1:p:21-36. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wioletta Wierzbicka (email available below). General contact details of provider: https://czasopisma.uwm.edu.pl/index.php/oej .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.