Countercyclical Risk Aversion: Beyond Financial Professionals [Online Appendix and Replication Package] (ICPSR doi:10.11588/data/HLGUFF)

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Part 1: Document Description
Part 2: Study Description
Part 3: Data Files Description
Part 4: Variable Description
Part 5: Other Study-Related Materials
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Document Description

Citation

Title:

Countercyclical Risk Aversion: Beyond Financial Professionals [Online Appendix and Replication Package]

Identification Number:

doi:10.11588/data/HLGUFF

Distributor:

heiDATA

Date of Distribution:

2017-03-31

Version:

3

Bibliographic Citation:

König-Kersting, Christian; Trautmann, Stefan T., 2017, "Countercyclical Risk Aversion: Beyond Financial Professionals [Online Appendix and Replication Package]", https://doi.org/10.11588/data/HLGUFF, heiDATA, V3, UNF:6:uf5BEfv2apPfRJhp2qW+Kw== [fileUNF]

Study Description

Citation

Title:

Countercyclical Risk Aversion: Beyond Financial Professionals [Online Appendix and Replication Package]

Identification Number:

doi:10.11588/data/HLGUFF

Authoring Entity:

König-Kersting, Christian (Alfred-Weber-Institute of Economics)

Trautmann, Stefan T. (Alfred-Weber-Institute of Economics)

Producer:

König-Kersting, Christian

Date of Production:

2016

Distributor:

heiDATA

Date of Distribution:

2017-03-31

Study Scope

Keywords:

Social Sciences, risk aversion, business cycle, priming

Topic Classification:

E32, E44, G01, G11, G12

Abstract:

We test if Cohn et al.’s (2015) experimental results on countercyclical risk aversion exhibited by financial professionals generalize to a standard student sample. In our sample, we do not find an effect of stock market bust or boom on subjects’ investments. We do not find a systematic emotional reaction, nor do we find an effect of variation in the emotional state (especially fear) on investment. Our results add to the literature documenting behavioral differences between financial professionals and non-professionals and, taking a policy perspective, underline the need for careful external validity checks of single sample experiments.

Methodology and Processing

File Description--f1556

File: fields_of_study_breakdown.tab

  • Number of cases: 93

  • No. of variables per record: 3

  • Type of File: text/tab-separated-values

Notes:

UNF:6:uf5BEfv2apPfRJhp2qW+Kw==

Variable Description

List of Variables:

Variables

fieldOfStudy

f1556 Location:

Variable Format: character

Notes: UNF:6:65Gf9qHzAvffhUlaXn8QaQ==

Frequency

f1556 Location:

Summary Statistics: StDev 20.87247281833485; Min. 1.0; Mean 4.279569892473117; Valid 93.0; Max. 199.0;

Variable Format: numeric

Notes: UNF:6:DcgxPjrxfbYsC7ovuwlrqQ==

Percent

f1556 Location:

Summary Statistics: StDev 0.0220527104229058; Mean 0.010869565217391304; Max. 0.20603015075376885; Valid 92.0; Min. 0.005025125628140704

Variable Format: numeric

Notes: UNF:6:RiqwEzTavedMYgbnpH18dw==

Other Study-Related Materials

Label:

data_note.txt

Notes:

text/plain

Other Study-Related Materials

Label:

data_raw_all_sessions.xlsx

Notes:

application/vnd.openxmlformats-officedocument.spreadsheetml.sheet

Other Study-Related Materials

Label:

data_reformatted_for_stata_import.xlsx

Notes:

application/vnd.openxmlformats-officedocument.spreadsheetml.sheet

Other Study-Related Materials

Label:

Online_Appendix.docx

Notes:

application/vnd.openxmlformats-officedocument.wordprocessingml.document

Other Study-Related Materials

Label:

Online_Appendix.pdf

Notes:

application/pdf

Other Study-Related Materials

Label:

stata_analysis_appendix.do

Notes:

application/x-stata-syntax

Other Study-Related Materials

Label:

stata_analysis.do

Notes:

application/x-stata-syntax

Other Study-Related Materials

Label:

stata_data.dta

Notes:

application/x-stata

Other Study-Related Materials

Label:

stata_preparations.do

Notes:

application/x-stata-syntax