Risk tolerance in financial decision making:
Saved in:
| Format: | Book |
|---|---|
| Language: | English |
| Published: |
Basingstoke
Palgrave Macmillan
2011
|
| Series: | Palgrave Macmillan studies in banking and financial institutions
|
| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Item Description: | Includes bibliographical references (p. 244-264) and index. |
| Physical Description: | XII, 269 S. graph. Darst. |
| ISBN: | 9780230281134 |
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MARC
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| 245 | 1 | 0 | |a Risk tolerance in financial decision making |c ed. by Caterina Lucarelli ... |
| 264 | 1 | |a Basingstoke |b Palgrave Macmillan |c 2011 | |
| 300 | |a XII, 269 S. |b graph. Darst. | ||
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| 490 | 0 | |a Palgrave Macmillan studies in banking and financial institutions | |
| 500 | |a Includes bibliographical references (p. 244-264) and index. | ||
| 650 | 4 | |a Wirtschaft | |
| 650 | 4 | |a Financial risk management | |
| 650 | 4 | |a Finance |x Decision making | |
| 650 | 4 | |a Risk management | |
| 650 | 7 | |a BUSINESS & ECONOMICS / Finance |2 bisacsh | |
| 650 | 7 | |a BUSINESS & ECONOMICS / Decision-Making & Problem Solving |2 bisacsh | |
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Record in the Search Index
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| adam_text | Titel: Risk tolerance in financial decision making
Autor: Lucarelli, Caterina
Jahr: 2011
Contents
ListofTables viii
List ofFigures x
Notes on Contributors xii
Introduction 1
Caterina Lucarelli
1 The Role of Risk in the Investment Decision Process:
Traditional vs Behavioural Finance 8
Camilla Mazzoli and Nicoletta Marinelli
1.1 Risk: the traditional finance perspective 8
1.1.1 Definition of financial risk 8
1.1.2 Traditional financial risk measures 11
1.1.3 The risk-return trade-off 19
1.2 Risk: the behavioural finance viewpoint 31
1.2.1 Definition of risk 31
1.2.2 Investment decision making biases 34
1.2.3 The risk-return trade-off anomalies 47
1.2.4 Behavioural financial theories on the
risk-return trade-off 51
2 Household Behaviour and Debt Demand 67
Daniela Vandone
2.1 Traditional economic modeis: behind the
determinants of household debt demand 67
2.1.1 Household characteristics 68
2.1.2 Household preferences 71
2.1.3 Institutional factors 72
2.2 Do individuals behave rationally? Some behavioural
economics findings 73
2.3 Credit instruments and the effect of behavioural factors 77
3 The Traditional Approach to Risk Tolerance 81
Nicoletta Marinelli and Camilla Mazzoli
3.1 Risk tolerance in the MiFID suitability questionnaire 81
3.2 The Italian experience: comparisons of MiFID
questionnaires 88
3.3 Consistency of clients profiles across a sample of
Italian MiFID questionnaires 97
3.4 The post-MiFID Italian suitability assessment compared
to the pre-MiFID and non-EU countries practice 103
4 Risk of Over-indebtedness and Behavioural Factors 113
Luisa Anderloni and Daniela Vandone
4.1 Non-rational debt decisions and risk of
over-indebtedness 113
4.2 Over-indebtedness and its consequences 115
4.3 Measures to tackle over-indebtedness 117
4.4 The importance of behavioural factors
in the effectiveness of measures to prevent
over-indebtedness 127
5 Decision Making: Psychological Perspective 133
Gianni Brighetti, Cristina Ottaviani, Valeria Nucifora
and Rosita Borlimi
5.1 Risk perception, sensitivity and tolerance 133
5.2 Risk sensitivity as the ground for adaptive
risk taking 135
5.3 The dark and bright sides of emotions in decision
making: is it just a matter of rationality? 140
5.4 Emotionality, rationality and another odd thought
process: the mind wandering 143
5.5 The need for an interdisciplinary approach: the case
of Neuroeconomics 149
6 The Layout of the Empirical Analysis 153
Caterina Lucarelli, Cristina Ottaviani and Daniela Vandone
6.1 The sample 153
6.2 The questionnaire 156
6.2.1 The Grable and Lytton financial risk tolerance
questionnaire 156
6.2.2 The Barratt Impulsiveness Scale (BIS) 157
6.2.3 The economic section 158
6.3 The Iowa Gambling Task 159
7 The Indicators of Risk 163
Caterina Lucarelli and Giulio Palomba
7.1 Sources of information and theoretical
assumptions 163
7.2 The unbiased risk indicator (UR) 166
7.3 The cases of alphas 169
7.4 The biased risk indicator (BR) 170
7.5 The real life risk indicator (RLR) 170
7.5.1 The real life attitude indicator (RLA) 171
7.5.2 The real life capacity indicator (RLC) 175
7.6 Correlations among BR, UR and RLR indicators 178
8 Results on the Investment Side 181
Caterina Lucarelli
8.1 Risk indicators and explanatory variables 181
8.2 The socio-demographic drivers 183
8.3 Knowledge 189
8.4 Information used 193
8.5 The decision process 197
8.6 Vulnerability, odds and trust 198
8.7 The multivariate analysis: what determines RLA? 200
9 The Determinants of Household Debt Holding:
An Empirical Analysis 206
Daniela Vandone and Cristina Ottaviani
9.1 Socio-demographic, economic and psychological
variables 206
9.2 Descriptive analysis 210
9.3 Multivariate analysis 212
10 The Implications for Market Participants and
Regulators 216
Gianni Brighetti, Caterina Lucarelli and Daniela Vandone
10.1 The overall empirical results 216
10.2 Implications on the investment side 218
10.3 Implication on the debt side 221
10.4 Nosce te ipsum : know who you are 224
Appendix 1 229
Appendix 2 242
References 244
Index 265
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| institution | BVB |
| isbn | 9780230281134 |
| language | English |
| lccn | 2010050924 |
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| physical | XII, 269 S. graph. Darst. |
| publishDate | 2011 |
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| series2 | Palgrave Macmillan studies in banking and financial institutions |
| spelling | Risk tolerance in financial decision making ed. by Caterina Lucarelli ... Basingstoke Palgrave Macmillan 2011 XII, 269 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Palgrave Macmillan studies in banking and financial institutions Includes bibliographical references (p. 244-264) and index. Wirtschaft Financial risk management Finance Decision making Risk management BUSINESS & ECONOMICS / Finance bisacsh BUSINESS & ECONOMICS / Decision-Making & Problem Solving bisacsh BUSINESS & ECONOMICS / Economics / Macroeconomics bisacsh PSYCHOLOGY / Neuropsychology bisacsh Lucarelli, Caterina Sonstige oth HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=024395289&sequence=000004&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Risk tolerance in financial decision making Wirtschaft Financial risk management Finance Decision making Risk management BUSINESS & ECONOMICS / Finance bisacsh BUSINESS & ECONOMICS / Decision-Making & Problem Solving bisacsh BUSINESS & ECONOMICS / Economics / Macroeconomics bisacsh PSYCHOLOGY / Neuropsychology bisacsh |
| title | Risk tolerance in financial decision making |
| title_auth | Risk tolerance in financial decision making |
| title_exact_search | Risk tolerance in financial decision making |
| title_full | Risk tolerance in financial decision making ed. by Caterina Lucarelli ... |
| title_fullStr | Risk tolerance in financial decision making ed. by Caterina Lucarelli ... |
| title_full_unstemmed | Risk tolerance in financial decision making ed. by Caterina Lucarelli ... |
| title_short | Risk tolerance in financial decision making |
| title_sort | risk tolerance in financial decision making |
| topic | Wirtschaft Financial risk management Finance Decision making Risk management BUSINESS & ECONOMICS / Finance bisacsh BUSINESS & ECONOMICS / Decision-Making & Problem Solving bisacsh BUSINESS & ECONOMICS / Economics / Macroeconomics bisacsh PSYCHOLOGY / Neuropsychology bisacsh |
| topic_facet | Wirtschaft Financial risk management Finance Decision making Risk management BUSINESS & ECONOMICS / Finance BUSINESS & ECONOMICS / Decision-Making & Problem Solving BUSINESS & ECONOMICS / Economics / Macroeconomics PSYCHOLOGY / Neuropsychology |
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