WP 2016-11 Once Bitten, Twice Shy: The Role of Inertia and Personal Experience in Risk Taking

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Published in 2019 in Journal of Financial Economics, Volume 132, Issue 3.

AUTHORS: Steffen Andersen, Tobin Hanspal, Kasper Meisner Nielsen

ABSTRACT: We study whether personal experiences are so powerful that they make individuals actively shy away from risk. Our research design relies on portfolio decisions relating to inheritances, which alter the… more »