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dc.contributor.authorNapp, Clotilde
HAL ID: 741006
ORCID: 0000-0002-7008-5949
dc.contributor.authorJouini, Elyès
HAL ID: 6654
dc.contributor.authorBen Mansour, Selima
dc.date.accessioned2009-07-10T09:38:38Z
dc.date.available2009-07-10T09:38:38Z
dc.date.issued2006
dc.identifier.urihttps://basepub.dauphine.fr/handle/123456789/1051
dc.language.isoenen
dc.subjectpessimismen
dc.subjectlotteryen
dc.subjectjudged probabilityen
dc.subject.ddc332en
dc.subject.classificationjelD53en
dc.subject.classificationjelD81en
dc.titleIs there a pessimistic bias in individual beliefs ? Evidence from survey dataen
dc.typeCommunication / Conférence
dc.description.abstractenThe aim of this paper is to determine whether individuals exhibit a behavioral bias towards pessimism in their beliefs, in a lottery or more generally in an investment opportunities framework. For this purpose, we design a field survey on a sample of 1,540 individuals aiming at deriving a measure of pessimism from answers to hypothetical scenarios. In the context of our experiment, we observe that individuals are on average pessimistic. We analyze how pessimism is distributed among individuals, in particular in link with gender, age and income. We also analyze how our notion of pessimism is related to more general notions of pessimism already introduced in psychology. We finally estimate the possible impact of this pessimistic bias on the financial markets equilibrium risk premium.en
dc.identifier.citationpages32en
dc.description.sponsorshipprivateouien
dc.subject.ddclabelEconomie financièreen
dc.relation.conftitleEuropean Financial Management Symposiumen
dc.relation.confdate2006-04
dc.relation.confcityDurhamen
dc.relation.confcountryRoyaume-Unien


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