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Christoph Merkle

Personal Details

First Name:Christoph
Middle Name:
Last Name:Merkle
Suffix:
RePEc Short-ID:pme747

Affiliation

Kühne Logistics University

Hamburg, Germany
http://www.the-klu.org/

:


RePEc:edi:kluhhde (more details at EDIRC)

Research output

as
Jump to: Working papers Articles

Working papers

  1. Kempf, Alexander & Merkle, Christoph & Niessen-Ruenzi, Alexandra, 2012. "Low risk and high return: Affective attitudes and stock market expectations," CFR Working Papers 09-10 [rev.], University of Cologne, Centre for Financial Research (CFR).

Articles

  1. Jochen Becker & Josip Medjedovic & Christoph Merkle, 2019. "The Effect of CEO Extraversion on Analyst Forecasts: Stereotypes and Similarity Bias," The Financial Review, Eastern Finance Association, vol. 54(1), pages 133-164, February.
  2. Merkle, Christoph, 2018. "The curious case of negative volatility," Journal of Financial Markets, Elsevier, vol. 40(C), pages 92-108.
  3. Christoph Merkle & Philipp Schreiber & Martin Weber, 2017. "Framing and retirement age: The gap between willingness-to-accept and willingness-to-pay," Economic Policy, CEPR;CES;MSH, vol. 32(92), pages 757-809.
  4. Justus Heuer & Christoph Merkle & Martin Weber, 2017. "Fooled by Randomness: Investor Perception of Fund Manager Skill," Review of Finance, European Finance Association, vol. 21(2), pages 605-635.
  5. Merkle, Christoph, 2017. "Financial overconfidence over time: Foresight, hindsight, and insight of investors," Journal of Banking & Finance, Elsevier, vol. 84(C), pages 68-87.
  6. Merkle, Christoph & Egan, Daniel P. & Davies, Greg B., 2015. "Investor happiness," Journal of Economic Psychology, Elsevier, vol. 49(C), pages 167-186.
  7. Alexander Kempf & Christoph Merkle & Alexandra Niessen†Ruenzi, 2014. "Low Risk and High Return – Affective Attitudes and Stock Market Expectations," European Financial Management, European Financial Management Association, vol. 20(5), pages 995-1030, November.
  8. Egan, Daniel & Merkle, Christoph & Weber, Martin, 2014. "Second-order beliefs and the individual investor," Journal of Economic Behavior & Organization, Elsevier, vol. 107(PB), pages 652-666.
  9. Merkle, Christoph & Weber, Martin, 2014. "Do investors put their money where their mouth is? Stock market expectations and investing behavior," Journal of Banking & Finance, Elsevier, vol. 46(C), pages 372-386.
  10. Merkle, Christoph & Weber, Martin, 2011. "True overconfidence: The inability of rational information processing to account for apparent overconfidence," Organizational Behavior and Human Decision Processes, Elsevier, vol. 116(2), pages 262-271.

Citations

Many of the citations below have been collected in an experimental project, CitEc, where a more detailed citation analysis can be found. These are citations from works listed in RePEc that could be analyzed mechanically. So far, only a minority of all works could be analyzed. See under "Corrections" how you can help improve the citation analysis.

Working papers

  1. Kempf, Alexander & Merkle, Christoph & Niessen-Ruenzi, Alexandra, 2012. "Low risk and high return: Affective attitudes and stock market expectations," CFR Working Papers 09-10 [rev.], University of Cologne, Centre for Financial Research (CFR).

    Cited by:

    1. Yang, Chunpeng & Yan, Wei & Zhang, Rengui, 2013. "Sentiment approach to negative expected return in the stock market," Economic Modelling, Elsevier, vol. 35(C), pages 30-34.
    2. Li, Jinfang, 2019. "Sentiment trading, informed trading and dynamic asset pricing," The North American Journal of Economics and Finance, Elsevier, vol. 47(C), pages 210-222.
    3. Abdulkadir Abdulrashid Rafindadi, 2015. "Are the Contentious Issues of Exchange Rate Misalignment in Nigeria a Prelude to the Country’s Currency Crisis?," International Journal of Economics and Financial Issues, Econjournals, vol. 5(3), pages 716-731.
    4. Bosman, Ronald & Kräussl, Roman & van Galen, Thomas, 2014. "Emotions-at-risk: An experimental investigation into emotions, option prices and risk perception," CFS Working Paper Series 495, Center for Financial Studies (CFS).
    5. Yang, Chunpeng & Wu, Huihui, 2019. "Chasing investor sentiment in stock market," The North American Journal of Economics and Finance, Elsevier, vol. 50(C).
    6. Fatih B. GUMUS & Yusuf DAYIOGLU, 2015. "An Analysis on The Socio-Economic and Demographic Factors That Have an Effect on The Risk Taking Preferences of Personal Investors," International Journal of Economics and Financial Issues, Econjournals, vol. 5(1), pages 136-147.

Articles

  1. Merkle, Christoph, 2018. "The curious case of negative volatility," Journal of Financial Markets, Elsevier, vol. 40(C), pages 92-108.

    Cited by:

    1. Christian Ehm & Christine Laudenbach & Martin Weber, 2018. "Focusing on volatility information instead of portfolio weights as an aid to investor decisions," Experimental Economics, Springer;Economic Science Association, vol. 21(2), pages 457-480, June.
    2. Ungeheuer, Michael & Weber, Martin, 2016. "The Perception of Dependence, Investment Decisions, and Stock Prices," CEPR Discussion Papers 11585, C.E.P.R. Discussion Papers.
    3. Huber, Jürgen & Palan, Stefan & Zeisberger, Stefan, 2019. "Does investor risk perception drive asset prices in markets? Experimental evidence," Journal of Banking & Finance, Elsevier, vol. 108(C).

  2. Christoph Merkle & Philipp Schreiber & Martin Weber, 2017. "Framing and retirement age: The gap between willingness-to-accept and willingness-to-pay," Economic Policy, CEPR;CES;MSH, vol. 32(92), pages 757-809.

    Cited by:

    1. Kieren, Pascal & Weber, Martin, 2019. "When saving is not enough: The wealth decumulation decision in retirement," CFS Working Paper Series 634, Center for Financial Studies (CFS).
    2. Brown, Jeffrey R. & Kapteyn, Arie & Luttmer, Erzo F.P. & Mitchell, Olivia S. & Samek, Anya, 2019. "Behavioral Impediments to Valuing Annuities: Complexity and Choice Bracketing," IZA Discussion Papers 12263, Institute of Labor Economics (IZA).

  3. Justus Heuer & Christoph Merkle & Martin Weber, 2017. "Fooled by Randomness: Investor Perception of Fund Manager Skill," Review of Finance, European Finance Association, vol. 21(2), pages 605-635.

    Cited by:

    1. Merkle, Christoph, 2018. "The curious case of negative volatility," Journal of Financial Markets, Elsevier, vol. 40(C), pages 92-108.
    2. Christoph Merkle & Philipp Schreiber & Martin Weber, 2017. "Framing and retirement age: The gap between willingness-to-accept and willingness-to-pay," Economic Policy, CEPR;CES;MSH, vol. 32(92), pages 757-809.

  4. Merkle, Christoph, 2017. "Financial overconfidence over time: Foresight, hindsight, and insight of investors," Journal of Banking & Finance, Elsevier, vol. 84(C), pages 68-87.

    Cited by:

    1. Ahrens, Steffen & Bosch-Rosa, Ciril & Roulund, Rasmus, 2019. "Price Dynamics and Trader Overconfidence," Rationality and Competition Discussion Paper Series 161, CRC TRR 190 Rationality and Competition.
    2. Merkle, Christoph, 2018. "The curious case of negative volatility," Journal of Financial Markets, Elsevier, vol. 40(C), pages 92-108.
    3. Andrea Lippi & Laura Barbieri & Mariacristina Piva & Werner De Bondt, 2018. "Time-varying risk behavior and prior investment outcomes: Evidence from Italy," Judgment and Decision Making, Society for Judgment and Decision Making, vol. 13(5), pages 471-483, September.
    4. Markus Spiwoks & Kilian Bizer, 2018. "Correlation Neglect and Overconfidence. An Experimental Study," Journal of Applied Finance & Banking, SCIENPRESS Ltd, vol. 8(3), pages 1-5.
    5. Caglayan, Mustafa & Talavera, Oleksandr & Zhang, Wei, 2019. "Herding behaviour in P2P lending markets," BOFIT Discussion Papers 22/2019, Bank of Finland, Institute for Economies in Transition.
    6. Block, Jörn H. & Fisch, Christian O. & Obschonka, Martin & Sandner, Philipp G., 2019. "A personality perspective on business angel syndication✰," Journal of Banking & Finance, Elsevier, vol. 100(C), pages 306-327.
    7. Pikulina, E.S. & Renneboog, L.D.R. & Tobler, P.N., 2014. "Overconfidence, Effort, and Investment (Revised version of CentER DP 2013-035)," Discussion Paper 2014-039, Tilburg University, Center for Economic Research.
    8. Yuriy Bilan & Maryna Brychko & Anna Buriak & Tetyana Vasilyeva, 2019. "Financial, business and trust cycles: the issues of synchronization," Zbornik radova Ekonomskog fakulteta u Rijeci/Proceedings of Rijeka Faculty of Economics, University of Rijeka, Faculty of Economics, vol. 37(1), pages 113-138.

  5. Merkle, Christoph & Egan, Daniel P. & Davies, Greg B., 2015. "Investor happiness," Journal of Economic Psychology, Elsevier, vol. 49(C), pages 167-186.

    Cited by:

    1. Dickason Koekemoer & Z Munyai & L. S. Ferreira S. J, 2019. "Income and Subjective Financial Well-Being as Determining Factors of Life Satisfaction," Journal of Economics and Behavioral Studies, AMH International, vol. 11(1), pages 122-128.

  6. Alexander Kempf & Christoph Merkle & Alexandra Niessen†Ruenzi, 2014. "Low Risk and High Return – Affective Attitudes and Stock Market Expectations," European Financial Management, European Financial Management Association, vol. 20(5), pages 995-1030, November.
    See citations under working paper version above.
  7. Egan, Daniel & Merkle, Christoph & Weber, Martin, 2014. "Second-order beliefs and the individual investor," Journal of Economic Behavior & Organization, Elsevier, vol. 107(PB), pages 652-666.

    Cited by:

    1. Merkle, Christoph, 2018. "The curious case of negative volatility," Journal of Financial Markets, Elsevier, vol. 40(C), pages 92-108.
    2. Merkle, Christoph & Egan, Daniel P. & Davies, Greg B., 2015. "Investor happiness," Journal of Economic Psychology, Elsevier, vol. 49(C), pages 167-186.
    3. Khan, Mohammad Tariqul Islam & Tan, Siow-Hooi & Chong, Lee-Lee, 2017. "How past perceived portfolio returns affect financial behaviors—The underlying psychological mechanism," Research in International Business and Finance, Elsevier, vol. 42(C), pages 1478-1488.
    4. Merkle, Christoph, 2017. "Financial overconfidence over time: Foresight, hindsight, and insight of investors," Journal of Banking & Finance, Elsevier, vol. 84(C), pages 68-87.
    5. Sara Negrelli, 2018. "Bubbles and Persuasion with Second Order Uncertainty," BAFFI CAREFIN Working Papers 1876, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy.
    6. Jiepeng Wang & Tingqiang Chen & Yue Dong, 2019. "Price Linkage Rumors in the Stock Market and Investor Risk Contagion on Bilayer-Coupled Networks," Complexity, Hindawi, vol. 2019, pages 1-21, April.

  8. Merkle, Christoph & Weber, Martin, 2014. "Do investors put their money where their mouth is? Stock market expectations and investing behavior," Journal of Banking & Finance, Elsevier, vol. 46(C), pages 372-386.

    Cited by:

    1. Breunig, Christoph & Huck, Steffen & Schmidt, Tobias & Weizsäcker, Georg, 2019. "The Standard Portfolio Choice Problem in Germany," Rationality and Competition Discussion Paper Series 171, CRC TRR 190 Rationality and Competition.
    2. Merkle, Christoph, 2018. "The curious case of negative volatility," Journal of Financial Markets, Elsevier, vol. 40(C), pages 92-108.
    3. Giglio, Stefano W & Maggiori, Matteo & Ströbel, Johannes & Utkus, Stephen, 2019. "Five Facts About Beliefs and Portfolios," CEPR Discussion Papers 13657, C.E.P.R. Discussion Papers.
    4. Merkle, Christoph & Egan, Daniel P. & Davies, Greg B., 2015. "Investor happiness," Journal of Economic Psychology, Elsevier, vol. 49(C), pages 167-186.
    5. Kempf, Alexander & Niessen-Ruenzi, Alexandra & Merkle, Christoph, 2009. "Low risk and high return - how emotions shape expectations on the stock market," CFR Working Papers 09-10, University of Cologne, Centre for Financial Research (CFR).
    6. Sara Jonsson & Inga-Lill Söderberg, 2018. "Investigating explanatory theories on laypeople’s risk perception of personal economic collapse in a bank crisis – the Cyprus case," Journal of Risk Research, Taylor & Francis Journals, vol. 21(6), pages 763-779, June.
    7. Merkle, Christoph, 2017. "Financial overconfidence over time: Foresight, hindsight, and insight of investors," Journal of Banking & Finance, Elsevier, vol. 84(C), pages 68-87.
    8. Egan, Daniel & Merkle, Christoph & Weber, Martin, 2014. "Second-order beliefs and the individual investor," Journal of Economic Behavior & Organization, Elsevier, vol. 107(PB), pages 652-666.
    9. Cardak, Buly A. & Martin, Vance L. & McAllister, Richard, 2019. "The effects of the Global Financial Crisis on the stock holding decisions of Australian households," The North American Journal of Economics and Finance, Elsevier, vol. 50(C).
    10. John Ameriks & Gábor Kézdi & Minjoon Lee & Matthew D. Shapiro, 2018. "Heterogeneity in Expectations, Risk Tolerance, and Household Stock Shares: The Attenuation Puzzle," NBER Working Papers 25269, National Bureau of Economic Research, Inc.
    11. K. Jeremy Ko & Zhijian (James) Huang, 2012. "Persistence of Beliefs in an Investment Experiment," Quarterly Journal of Finance (QJF), World Scientific Publishing Co. Pte. Ltd., vol. 2(01), pages 1-34.
    12. Kaplanski, Guy & Levy, Haim & Veld, Chris & Veld-Merkoulova, Yulia, 2016. "Past returns and the perceived Sharpe ratio," Journal of Economic Behavior & Organization, Elsevier, vol. 123(C), pages 149-167.

  9. Merkle, Christoph & Weber, Martin, 2011. "True overconfidence: The inability of rational information processing to account for apparent overconfidence," Organizational Behavior and Human Decision Processes, Elsevier, vol. 116(2), pages 262-271.

    Cited by:

    1. Grohmann, Antonia & Menkhoff, Lukas & Merkle, Christoph & Schmacker, Renke, 2019. "Earn More Tomorrow: Overconfident Income Expectations and Consumer Indebtedness," Rationality and Competition Discussion Paper Series 152, CRC TRR 190 Rationality and Competition.
    2. Tomas Miklanek, 2017. "Ego-utility and Endogenous Information Acquisition; An Experimental Study," CERGE-EI Working Papers wp582, The Center for Economic Research and Graduate Education - Economics Institute, Prague.
    3. Adrian Bruhin & Luis Santos-Pinto & David Staubli, 2016. "How Do Beliefs about Skill Affect Risky Decisions?," Cahiers de Recherches Economiques du Département d'économie 16.20, Université de Lausanne, Faculté des HEC, Département d’économie.
    4. Amalia Di Girolamo & Glenn W. Harrison & Morten I. Lau & J. Todd Swarthout, 2015. "Subjective Belief Distributions and the Characterization of Economic Literacy," Experimental Economics Center Working Paper Series 2015-06, Experimental Economics Center, Andrew Young School of Policy Studies, Georgia State University.
    5. Zahra Murad & Martin Sefton & Chris Starmer, 2016. "How do risk attitudes affect measured confidence?," Journal of Risk and Uncertainty, Springer, vol. 52(1), pages 21-46, February.
    6. Harrison, Glenn W. & Martínez-Correa, Jimmy & Swarthout, J. Todd & Ulm, Eric R., 2017. "Scoring rules for subjective probability distributions," Journal of Economic Behavior & Organization, Elsevier, vol. 134(C), pages 430-448.
    7. Alison Wood Brooks & Francesca Gino & Maurice E. Schweitzer, 2015. "Smart People Ask for (My) Advice: Seeking Advice Boosts Perceptions of Competence," Management Science, INFORMS, vol. 61(6), pages 1421-1435, June.
    8. Dasgupta, Utteeyo & Gangadharan, Lata & Maitra, Pushkar & Mani, Subha & Subramanian, Samyukta, 2015. "Choosing to be trained: Do behavioral traits matter?," Journal of Economic Behavior & Organization, Elsevier, vol. 110(C), pages 145-159.
    9. Jean-Pierre Benoît & Juan Dubra & Don A. Moore, 2015. "Does The Better-Than-Average Effect Show That People Are Overconfident?: Two Experiments," Journal of the European Economic Association, European Economic Association, vol. 13(2), pages 293-329, April.
    10. Louis Lévy-Garboua & Muniza Askari & Marco Gazel, 2017. "Confidence biases and learning among intuitive Bayesians," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-01558394, HAL.
    11. Di Girolamo, Amalia & Harrison, Glenn & Lau, Morten & Swarthout, J. Todd, 2016. "Subjective Belief Distributions and the Characterization of Economic Literacy," IZA Discussion Papers 9856, Institute of Labor Economics (IZA).
    12. Jean‐Pierre Benoît & Juan Dubra, 2011. "Apparent Overconfidence," Econometrica, Econometric Society, vol. 79(5), pages 1591-1625, September.
    13. Cheung, Stephen L. & Johnstone, Lachlan, 2017. "True Overconfidence, Revealed through Actions: An Experiment," IZA Discussion Papers 10545, Institute of Labor Economics (IZA).
    14. Friehe, Tim & Pannenberg, Markus, 2019. "Overconfidence over the lifespan: Evidence from Germany," Journal of Economic Psychology, Elsevier, vol. 74(C).
    15. Markus Spiwoks & Kilian Bizer, 2018. "On the Measurement of Overconfidence: An Experimental Study," International Journal of Economics and Financial Research, Academic Research Publishing Group, vol. 4(1), pages 30-37, 01-2018.
    16. Leitner, Stephan & Rausch, Alexandra & Behrens, Doris A., 2017. "Distributed investment decisions and forecasting errors: An analysis based on a multi-agent simulation model," European Journal of Operational Research, Elsevier, vol. 258(1), pages 279-294.
    17. Ritwik Banerjee & Nabanita Datta Gupta & Marie Claire Villeval, 2018. "Self Confidence Spillovers and Motivated Beliefs," Working Papers 1806, Groupe d'Analyse et de Théorie Economique Lyon St-Étienne (GATE Lyon St-Étienne), Université de Lyon.
    18. Peter Schwardmann & Joël van der Weele, 2016. "Deception and Self-Deception," Tinbergen Institute Discussion Papers 16-012/I, Tinbergen Institute.
    19. Cacault, Maria Paula & Grieder, Manuel, 2019. "How group identification distorts beliefs," Journal of Economic Behavior & Organization, Elsevier, vol. 164(C), pages 63-76.
    20. Hirshleifer, David, 2014. "Behavioral Finance," MPRA Paper 59028, University Library of Munich, Germany.
    21. Hoeppner Sven & Kirchner Christian, 2016. "Ex ante versus Ex post Governance: A Behavioral Perspective," Review of Law & Economics, De Gruyter, vol. 12(2), pages 227-259, July.
    22. Louis Lévy-Garboua & Muniza Askari & Marco Gazel, 2015. "Confidence Biases and Learning among Intuitive Bayesians," Documents de travail du Centre d'Economie de la Sorbonne 15080, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
    23. Choi, Paul Moon Sub & Chung, Chune Young & Liu, Chang, 2018. "Self-attribution of overconfident CEOs and asymmetric investment-cash flow sensitivity," The North American Journal of Economics and Finance, Elsevier, vol. 46(C), pages 1-14.
    24. Merkle, Christoph, 2017. "Financial overconfidence over time: Foresight, hindsight, and insight of investors," Journal of Banking & Finance, Elsevier, vol. 84(C), pages 68-87.
    25. Schüssler, Katharina, 2018. "The Influence of Overconfidence and Competition Neglect On Entry Into Competition," Rationality and Competition Discussion Paper Series 87, CRC TRR 190 Rationality and Competition.
    26. Shi Chen & Jyh-Horng Lin & Wenyu Yao & Fu-Wei Huang, 2019. "CEO Overconfidence and Shadow-Banking Life Insurer Performance Under Government Purchases of Distressed Assets," Risks, MDPI, Open Access Journal, vol. 7(1), pages 1-25, March.
    27. Louis Lévy-Garboua & Muniza Askari & Marco Gazel, 2015. "Confidence Biases and Learning among Intuitive Bayesians," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-01243584, HAL.
    28. Ritwik Banerjee & Nabanita Datta Gupta & Marie Claire Villeval, 2019. "Self Confidence Spillovers, Status and Motivated Beliefs," Working Papers halshs-01760347, HAL.

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