Deutsch
 
Hilfe Datenschutzhinweis Impressum
  DetailsucheBrowse

Datensatz

DATENSATZ AKTIONENEXPORT

Freigegeben

Zeitschriftenartikel

Thinking about Prices versus Thinking about Returns in Financial Markets

MPG-Autoren
/persons/resource/persons217958

Iliewa,  Zwetelina
Max Planck Institute for Research on Collective Goods, Max Planck Society;

Externe Ressourcen
Volltexte (beschränkter Zugriff)
Für Ihren IP-Bereich sind aktuell keine Volltexte freigegeben.
Volltexte (frei zugänglich)
Es sind keine frei zugänglichen Volltexte in PuRe verfügbar
Ergänzendes Material (frei zugänglich)
Es sind keine frei zugänglichen Ergänzenden Materialien verfügbar
Zitation

Glaser, M., Iliewa, Z., & Martin, W. (in press). Thinking about Prices versus Thinking about Returns in Financial Markets. Journal of Finance.


Zitierlink: https://hdl.handle.net/21.11116/0000-0001-5495-8
Zusammenfassung
Prices and returns are alternative ways to present information and to elicit expectations in financial markets. But do investors think of prices and returns in the same way? We present three studies with subjects having various levels of expertise, amount of information, and different incentive schemes. The results are consistent across all studies: Asking subjects to forecast returns as opposed to prices results in higher expectations, whereas showing them return charts as opposed to price charts results in lower expectations. Experience is not a useful remedy but cognitive reflection mitigates the impact of format changes.