Publications in Refereed Journals
Bubbles and Financial Professionals (2019)
(with Weitzel, U., Huber, C., Huber, J., Kirchler, M., Lindner, F.)
Review of Financial Studies
Ready-made oTree apps for time preference elicitation methods (2019)
(with Rose, M.)
Journal of Behavioral and Experimental Finance
Evaluating the replicability of social science experiments in Nature and Science between 2010 and 2015 (2018)
(with Camerer, C., Dreber, A., Holzmeister, F., Ho, T.-H., Huber, J., Johannesson, M., Kirchler, M., Nave, G., Nosek, B., Pfeiffer, T., Altmejd, A., Buttrick, N., Chan, T., Chen, Y., Forsell, E., Gampa, A., Heikenstein, E., Hummer, L., Taisuke, I., Isaksson, S., Manfredi, D., Wagenmakers, E., and Wu, H.)
Nature Human Behaviour
No need for more time: Intertemporal allocation decisions under time pressure (2017)
(with Lindner, F.)
Journal of Economic Psychology
Working Papers
Client-Advisor Matching in the Finance Industry
Job Market Paper
In an experimental study with 441 subjects from the general population and 126 financial professionals, we test a novel matching procedure to assign advisors to clients. This matching is based on two simple self-assessed measures for risk-return preferences and the risk bearing capacity. Our findings show that a matching based on similarity in those risk attitudes is not only preferred by clients, but also significantly increases the delegation probability of investment decisions as well as overall client satisfaction compared to random matching. Additionally, we find that advisors are both willing and able to incorporate clients’ preferences in their investment decisions on the clients’ behalf. A potential drawback of the matching mechanism is that advisors have incentives to misrepresent their own attitudes if they compete for clients. The experimental results do not show evidence of this effect in practice, providing further support for the applicability of the proposed mechanism.
Overview of experimental results for participating financial professionals (in German):
Do individual attitudes towards imprecision survive in experimental asset markets?
(with Christoph Huber)
Status and Reputation Nudging
(with Michael Kirchler and Stefan Palan)
Under Review
The Impact of Stress on Risky Choice: Preference Shifts or Noise?
(with Elle Parslow)
Work in Progress
Large gains, small losses? (Mis)representing returns in financial advice
(with Christoph Huber)
Manuscript in preparation
Probability Weighting under Induced Anticipated Anxiety
(with Jan Engelmann and Christoph Huber)
Design and programming completed
Price Paths, Stress, and Evaluation Periods
Manuscript in preparation
Lying, Stress, and (false) Confessions
(with Fabio Galeotti)
Work in progress
