Content:
Chapter 1 investigates how people's beliefs and investment behavior change in light of social information from their peers and from experts with a large-scale online experiment with participants from the U.S. and the U.K. I find that laypeople’s forecasts are strongly influenced by information they get on other subjects' forecasts, while financial professionals are much less influenced by social information; information signals by financial professionals influence all subject groups more than forecasts by laypeople; I observe a home bias in all subject groups, which can be mitigated by information signals; all subject groups expect lower forecast errors for financial professionals than for laypeople, hence I also find evidence for trust in experts.
Note:
Zusammenfassung in deutscher Sprache
In:
Huber, Christoph, Essays in experimental economics, Innsbruck, 2020, (2020), Seite 17-38, 136-149
In:
year:2020
In:
pages:17-38, 136-149
Language:
English
Keywords:
Aufsatz im Buch
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