IDEAS home Printed from https://ideas.repec.org/a/wly/revfec/v40y2022i1p97-114.html
   My bibliography  Save this article

Measuring risk‐taking and patience in financial decision making

Author

Listed:
  • Wolfgang Breuer
  • Thomas Renerken
  • Astrid Juliane Salzmann

Abstract

We empirically compared the consistency among different kinds of measures for risk‐taking and patience in a survey and an experiment. We evaluated how these variables relate to financial decisions, using a novel set of easy‐to‐apply survey questions as proxy. The main finding is that our results based on the novel survey questions describing financial behavior and on lifelike financial behavior in the laboratory are very similar. Therefore, relatively low‐cost elicitation measures may be used to forecast decision making, which, in turn, may be described by our novel set of survey questions.

Suggested Citation

  • Wolfgang Breuer & Thomas Renerken & Astrid Juliane Salzmann, 2022. "Measuring risk‐taking and patience in financial decision making," Review of Financial Economics, John Wiley & Sons, vol. 40(1), pages 97-114, January.
    • Handle: RePEc:wly:revfec:v:40:y:2022:i:1:p:97-114
    DOI: 10.1002/rfe.1142
    as

    Download full text from publisher

    File URL: https://doi.org/10.1002/rfe.1142
    Download Restriction: no
    File URL: https://libkey.io/10.1002/rfe.1142?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    More about this item

    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:wly:revfec:v:40:y:2022:i:1:p:97-114. 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: Wiley Content Delivery (email available below). General contact details of provider: https://doi.org/10.1002/(ISSN)1873-5924 .

    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.