报告题目：Multiplicative background risk
摘要：We conduct the first incentivized laboratory experiment to test the effects of multiplicative background risk on risk-taking behavior. Unlike additive background risk, multiplicative background risk can decrease or increase risk taking. Using a within-subject design, we find that risk taking decreases for 34%, stays the same for 27%, and increases for 39% of the subjects. Increased risk taking is mainly driven by the negative skewness of the background risk. The resulting 9% increase in investment is significant across all empirical specifications.
报告人：Dr. Richard Peter, Associate Professor of Finance, University of Iowa.
Dr. Richard Peter obtained his PhD degree from Ludwig-Maximilians-Universitat in Munich in 2013, and continued his research career for two more years there. He then worked at the University of Iowa till now. His research interests are risk management and insurance and decision-making under risk uncertainty. His paper has been published in top journals including Operations Research, Management Science, Journal of Risk and Insurance, Journal of Economic Behavior & Organization, Economic Theory and etc.
会议号: 843 3206 5129
邀 请 人：马冰