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Sense of Control Affects Investment Behavior

Listed author(s):
  • Li King King


    (Strategic Interaction Group, Max Planck Institute of Economics, Jena)

Preference for control affects investment behavior. Participants of laboratory experiments invest different amount of money in a risky asset when face with two different methods of control which have identical payoff structure and probability distribution, but provide different sense of control. Preference for controlling and not controlling are both observed. Participants increase their investment when their preferred method of control is used. Participants who prefer to control more reduce their investment more strongly when face with less control. Preference for control has larger effect on investment behavior when participants are induced to have a comparative mindset rather than non-comparative mindset.

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Paper provided by Friedrich-Schiller-University Jena in its series Jena Economic Research Papers with number 2010-004.

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Date of creation: 20 Jan 2010
Handle: RePEc:jrp:jrpwrp:2010-004
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