The role of personal interaction in the assessment of risk attitudes
Roth,Benjamin Trautmann,Stefan Voskort,Andrea
Roth,Benjamin
Trautmann,Stefan
Voskort,Andrea
Abstract
Many decisions under uncertainty are delegated to professionals, such as financial advisors or medical doctors, requiring them to assess the risk attitudes of their clients or patients. To gain a better understanding of the potential factors influencing risk attitude assessments, the current study investigates the role of personal interaction in these assessments. Controlling for information transmitted, we find that personal interaction leads to more risk-averse assessments, but does neither harm nor benefit assessments in terms of precision. We replicate previous findings of stereotypes in risk preference predictions, and discuss the influence of the assessor's own risk attitude on her assessments.
Description
Date
2016-08
Journal Title
Journal ISSN
Volume Title
Publisher
Research Projects
Organizational Units
Journal Issue
Keywords
risk attitude, advice, C91 - Laboratory, Individual Behavior, D81 - Criteria for Decision-Making under Risk and Uncertainty, G02 - Behavioral Finance: Underlying Principles
Citation
Roth, B, Trautmann, S & Voskort, A 2016, 'The role of personal interaction in the assessment of risk attitudes', Journal of Behavioral and Experimental Economics, vol. 63, pp. 106–113. https://doi.org/10.1016/j.socec.2016.06.004