Title: Assessing the risk attitude of private investors using the implicit association test
Authors : Fehr, Robert
Hari, Jürg J.
Published in : Journal of financial service professionals
Volume(Issue) : 68
Issue : 6
Pages : 50
Pages to: 62
Publisher / Ed. Institution : Society of Financial Service Professionals
Issue Date: 2014
License (according to publishing contract) : Licence according to publishing contract
Type of review: Peer review (publication)
Language : German
Subjects : Consumer Lending; Portfolio Management; Investment Advice; IAT; Miscellaneous Financial Investment Activities; Securities and Commodity Exchanges; Investment Banking; Securities Dealing
Subject (DDC) : 332.6: Investment
Abstract: The new European regulation on financial markets requires consultants to assess clients' risk attitudes before advising them on financial products. The aim of the study is to test an alternative measure to quantify the risk attitudes of private investors: the Implicit Association Test (IAT). This study examines differences in implicit, unconscious, automatic, and explicit cognitive attitude. The results of 66 IAT participants are compared with their answers from a risk tolerance questionnaire used by practitioners. Low correlation coefficients show that implicit attitude, and therefore unconscious and uncontrolled thinking, can differ from conscious processes (explicit attitude).
Departement: School of Management and Law
Organisational Unit: Institute of Wealth & Asset Management (IWA)
Publication type: Article in scientific journal
ISSN: 1537-1816
URI: https://digitalcollection.zhaw.ch/handle/11475/10003
Appears in Collections:Publikationen School of Management and Law

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