(The) preference for a risky yet profitable portfolio can increase after (vs. before) rendering a series of investment decisions

Financial Investment;Decision-Making;Risk-Taking;Preferences;Effort;658

경영대학 경영학과 ;

University:서울대학교 대학원

关键词: Financial Investment;    Decision-Making;    Risk-Taking;    Preferences;    Effort;    658;   

Others  :  http://s-space.snu.ac.kr/bitstream/10371/124727/1/000000141508.pdf

美国|英语

来源: Seoul National University Open Repository

【 摘 要 】

Schmeichel, Harmon-Jones, and Harmon-Jones 2010), executing a series of investment decisions may motivate consumers to prefer a portfolio that offers greater investment returns, even when such returns entail greater financial risks.Three experiments (N = 248, 200, and 324) yielded results consistent with the hypothesis. In the experiments, the author induced participants to express their preference for the portfolio after (vs. before) rendering a series of investment decisions by arranging the portfolio decision at the bottom (vs. top) of the screens. To illustrate, participants read a scenario in which they visited a financial institution to open an IRA or an investment fund. Then, participants responded to the items about their investment duration, investment amount, portfolio composition, etc. Since participants usually read the texts on a screen from top to bottom, arranging an item at the bottom (vs. top) of the screen would make participants to reply to the very item after (vs. before) answering the other items. As predicted, participants preferred risky yet lucrative portfolio when the item about investment portfolio was located at the bottom (vs. top) of the screen. This results indicated that participants increased their preference for a risky but profitable portfolio after (vs. before) rendering a series of investment decisions.