Review of Finance Vol. 12 No. 3 2008
Priming the Risk Attitudes of Professionals in Financial Decision Making
Abstract
We explore the influence of priming on financial decisions by reinforcing subjects' risk-seeking behavior under uncertainty and comparing it to behavior in control groups. We focused on professionals: commercial banks' investment advisors and accountants in CPA firms. Results indicate that priming affects subjects' risk attitudes and investment decisions. Professionals' decisions were affected more than undergraduates', suggesting they employ a more intuitive and less analytic approach in making their decisions. Our work is related to field-data research documenting correlations between returns (investors' decisions) and situational factors, (i.e., weather) by suggesting controlled tests of professionals' behavior vis-a-vis the complexity inherent in field data.
- DOI
- 10.1093/rof/rfm034
- Volume
- 12
- Issue
- 3
- Pages
- 567-586
- Language
- en
- Sources
- bibtex:phds-export.bib openalex crossref