Details about Martin Weber

Homepage:

https://www.bwl.uni-mannheim.de/weber/

Access statistics for papers by Martin Weber.

Last updated 2025-02-10. Update your information in the RePEc Author Service.

Short-id: pwe359

---

Jump to Journal Articles Books Chapters

Working Papers

2024

1. A Cognitive Foundation for Perceiving Uncertainty
   PIER Working Paper Archive, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania
   Also in NBER Working Papers, National Bureau of Economic Research, Inc (2024)

2023

2. Do individuals accept fluctuations in pension income?
   ZEW Discussion Papers, ZEW - Leibniz Centre for European Economic Research
3. Dynamic Inconsistency in Risky Choice: Evidence from the Lab and Field
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (3)
   Also in ECONtribute Discussion Papers Series, University of Bonn and University of Cologne, Germany (2021) View citations (5)
   CRC TR 224 Discussion Paper Series, University of Bonn and University of Mannheim, Germany (2021) View citations (5)
   See also Journal Article Dynamic Inconsistency in Risky Choice: Evidence from the Lab and Field, American Economic Review, American Economic Association (2025) (2025)
4. How speculative asset characteristics shape retail investors' selling behavior
   SAFE Working Paper Series, Leibniz Institute for Financial Research SAFE
5. Reinvesting Dividends
   CEPR Discussion Papers, C.E.P.R. Discussion Papers

2021

6. The disposition effect in boom and bust markets
   SAFE Working Paper Series, Leibniz Institute for Financial Research SAFE View citations (2)

2020

7. Risk attitude and capital market participation: Is there a gender investment gap in Germany?
   ZEW Discussion Papers, ZEW - Leibniz Centre for European Economic Research View citations (1)
8. The Portfolio Composition Effect
   CEPR Discussion Papers, C.E.P.R. Discussion Papers
9. Why so Negative? Belief Formation and Risk Taking in Boom and Bust Markets
   CEPR Discussion Papers, C.E.P.R. Discussion Papers

2019

10. How to Alleviate Correlation Neglect
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (6)
11. When saving is not enough: The wealth decumulation decision in retirement
    CFS Working Paper Series, Center for Financial Studies (CFS) View citations (1)

2018

12. Trust and Delegated Investing: A Money Doctors Experiment
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (3)

2017

13. Improving the quality of hospital care for children by supportive supervision: A cluster randomized trial, Kyrgyzstan
    WIDER Working Paper Series, World Institute for Development Economic Research (UNU-WIDER) View citations (1)
14. Losing Trust in Money Doctors
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (2)

2016

15. Expected skewness and momentum
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (9)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2015) View citations (8)
16. Mortgage Choice with Multiple Fixation Periods: Evidence from German Mortgage Borrowers
    ERES, European Real Estate Society (ERES)
17. The Perception of Dependence and Investment Decisions
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (1)
18. The Perception of Dependence, Investment Decisions, and Stock Prices
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (1)
    See also Journal Article The Perception of Dependence, Investment Decisions, and Stock Prices, Journal of Finance, American Finance Association (2021) View citations (8) (2021)

2015

19. Time Inconsistent Preferences and the Annuitization Decision
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (1)
    See also Journal Article Time inconsistent preferences and the annuitization decision, Journal of Economic Behavior & Organization, Elsevier (2016) View citations (26) (2016)

2014

20. BEWARE OF BLACK SWANS AND DO NOT IGNORE WHITE ONES?
    Working Papers, HAL

2010

21. Individual risk attitude and asset market behaviour
    Post-Print, HAL
    Also in Post-Print, HAL (2010)
    Post-Print, HAL (2010)

2009

22. Hindsight Bias, Risk Perception, and Investment Performance
    Post-Print, HAL View citations (38)
    See also Journal Article Hindsight Bias, Risk Perception, and Investment Performance, Management Science, INFORMS (2009) View citations (46) (2009)

2008

23. Financial Literacy und Anlegerverhalten
    Sonderforschungsbereich 504 Publications, Sonderforschungsbereich 504, Universität Mannheim
24. Hindsight Bias and Investment Performance
    IDEI Working Papers, Institut d'Économie Industrielle (IDEI), Toulouse
25. Scale Dependence of Overconfidence in Stock Market Volatility Forecasts
    Sonderforschungsbereich 504 Publications, Sonderforschungsbereich 504, Universität Mannheim
    Also in Papers, Sonderforschungsbreich 504 (2008)

2007

26. An Individual Level Analysis of the Disposition Effect: Empirical and Experimental Evidence
    Sonderforschungsbereich 504 Publications, Sonderforschungsbereich 504, Universität Mannheim View citations (26)
    Also in Papers, Sonderforschungsbreich 504 (2007) View citations (26)
27. Can Auditors Be Independent? - Experimental Evidence
    Sonderforschungsbereich 504 Publications, Sonderforschungsbereich 504, Universität Mannheim View citations (3)
    Also in Papers, Sonderforschungsbreich 504 (2007)
28. Determinants of Risk Taking Behavior: The role of Risk Attitudes, Risk Perceptions and Beliefs
    Sonderforschungsbereich 504 Publications, Sonderforschungsbereich 504, Universität Mannheim View citations (6)
    Also in Papers, Sonderforschungsbreich 504 (2007) View citations (5)
29. False Consensus and the Role of Ambiguity in Predictions of Others’ Risky Preferences
    Sonderforschungsbereich 504 Publications, Sonderforschungsbereich 504, Universität Mannheim
    Also in Papers, Sonderforschungsbreich 504 (2007)
30. How do Markets React to Fundamental Shocks? An Experimental Analysis on Underreaction and Momentum
    Sonderforschungsbereich 504 Publications, Sonderforschungsbereich 504, Universität Mannheim View citations (5)
    Also in Papers, Sonderforschungsbreich 504 (2007) View citations (5)
31. Managerial Optimism and Corporate Investment: Is the CEO Alone Responsible for the Relation?
    Sonderforschungsbereich 504 Publications, Sonderforschungsbereich 504, Universität Mannheim
32. Reference Point Formation Over Time: A Weighting Function Approach
    Sonderforschungsbereich 504 Publications, Sonderforschungsbereich 504, Universität Mannheim View citations (4)
    Also in Papers, Sonderforschungsbreich 504 (2007) View citations (4)
33. The Repurchase Behavior of Individual Investors: An Experimental Investigation
    Sonderforschungsbereich 504 Publications, Sonderforschungsbereich 504, Universität Mannheim
    Also in Papers, Sonderforschungsbreich 504 (2007)
34. Why inexperienced investors do not learn: They do not know their past portfolio performance
    Sonderforschungsbereich 504 Publications, Sonderforschungsbereich 504, Universität Mannheim View citations (18)
    See also Journal Article Why inexperienced investors do not learn: They do not know their past portfolio performance, Finance Research Letters, Elsevier (2007) View citations (18) (2007)

2006

35. Individual Investor Sentiment and Stock Returns - What Do We Learn from Warrant Traders?
    Sonderforschungsbereich 504 Publications, Sonderforschungsbereich 504, Universität Mannheim View citations (2)
    Also in Papers, Sonderforschungsbreich 504 (2006) View citations (2)

2005

36. Corporate Governance and the Design of Stock Option Programs
    Sonderforschungsbereich 504 Publications, Sonderforschungsbereich 504, Universität Mannheim View citations (1)
    Also in Papers, Sonderforschungsbreich 504 (2005) View citations (1)
37. Framing Effects in Stock Market Forecasts: The Difference Between Asking for Prices and Asking for Returns
    Sonderforschungsbereich 504 Publications, Sonderforschungsbereich 504, Universität Mannheim View citations (1)
38. Funding Modes of German Banks: Structural Changes and its Implications
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (1)
39. Overconfidence and Trading Volume
    SIFR Research Report Series, Institute for Financial Research View citations (3)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2003) View citations (13)
    Papers, Sonderforschungsbreich 504 (2003) View citations (15)
    Sonderforschungsbereich 504 Publications, Sonderforschungsbereich 504, Universität Mannheim (2003) View citations (14)
    See also Journal Article Overconfidence and trading volume, The Geneva Papers on Risk and Insurance Theory, Springer (2007) View citations (207) (2007)
40. Overconfidence of Professionals and Lay Men: Individual Differences Within and Between Tasks?
    Sonderforschungsbereich 504 Publications, Sonderforschungsbereich 504, Universität Mannheim View citations (47)
    Also in Papers, Sonderforschungsbreich 504 (2005) View citations (49)
41. Payout Policy and Owners? Interests: Evidence from German Savings Banks
    ZEW Discussion Papers, ZEW - Leibniz Centre for European Economic Research
42. Risk aversion on probabilities: Experimental evidence of deciding between lotteries
    Other publications TiSEM, Tilburg University, School of Economics and Management View citations (2)
    See also Journal Article Risk Aversion on Probabilities: Experimental Evidence of Deciding Between Lotteries, Homo Oeconomicus, Institute of SocioEconomics (2005) View citations (2) (2005)
43. Stock Options and Employee Behavior
    Sonderforschungsbereich 504 Publications, Sonderforschungsbereich 504, Universität Mannheim View citations (4)
    Also in Papers, Sonderforschungsbreich 504 (2005) View citations (4)
44. Subjective Stock Option Values and Exercise Decisions: Determinants and Consistency
    Sonderforschungsbereich 504 Publications, Sonderforschungsbereich 504, Universität Mannheim
    Also in Papers, Sonderforschungsbreich 504 (2005)
45. Which Past Returns Affect Trading Volume?
    SIFR Research Report Series, Institute for Financial Research
    Also in Sonderforschungsbereich 504 Publications, Sonderforschungsbereich 504, Universität Mannheim (2005)
    See also Journal Article Which past returns affect trading volume?, Journal of Financial Markets, Elsevier (2009) View citations (67) (2009)

2004

46. Bedeutung des Börsenkurses im Rahmen der Unternehmensbewertung
    Papers, Sonderforschungsbreich 504
47. Framing Effects, Selective Information and Market Behavior ­ An Experimental Analysis ­
    Papers on Strategic Interaction, Max Planck Institute of Economics, Strategic Interaction Group View citations (4)
    See also Chapter Framing Effects, Selective Information and Market Behavior: An Experimental Analysis, Chapters, Edward Elgar Publishing (2010) View citations (1) (2010)
48. Informational Efficiency of Credit Default Swap and Stock Markets: The Impact of Credit Rating Announcements
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (303)
    See also Journal Article Informational efficiency of credit default swap and stock markets: The impact of credit rating announcements, Journal of Banking & Finance, Elsevier (2004) View citations (301) (2004)
49. Portfolio Choice in the Presence of Nontradeable Income: An Experimental Analysis
    Sonderforschungsbereich 504 Publications, Sonderforschungsbereich 504, Universität Mannheim View citations (2)
    Also in Papers, Sonderforschungsbreich 504 (2004) View citations (2)
    See also Journal Article Portfolio Choice in the Presence of Non-Tradable Income: An Experimental Analysis, German Economic Review, De Gruyter (2006) (2006)
50. The Comovement of Credit Default Swap, Bond and Stock Markets: An Empirical Analysis
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (54)
    Also in CFS Working Paper Series, Center for Financial Studies (CFS) (2004) View citations (54)

2003

51. Behavioral Finance
    Sonderforschungsbereich 504 Publications, Sonderforschungsbereich 504, Universität Mannheim View citations (24)
    Also in Papers, Sonderforschungsbreich 504 (2003) View citations (1)
52. Choice-Based Elicitation and Decomposition of Decision Weights for Gains and Losses Under Uncertainty
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (10)
    See also Journal Article Choice-Based Elicitation and Decomposition of Decision Weights for Gains and Losses Under Uncertainty, Management Science, INFORMS (2005) View citations (160) (2005)
53. Does Binding of Feedback Influence Myopic Loss Aversion? An Experimental Analysis
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (16)
    Also in Sonderforschungsbereich 504 Publications, Sonderforschungsbereich 504, Universität Mannheim (2003) View citations (17)
    Papers, Sonderforschungsbreich 504 (2003) View citations (15)
54. Heterogeneity of Investors and Asset Pricing in a Risk-Value World
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (4)
    Also in CoFE Discussion Papers, University of Konstanz, Center of Finance and Econometrics (CoFE) (2001) View citations (2)
55. How Do Banks Determine Capital? Empirical Evidence for Germany
    ZEW Discussion Papers, ZEW - Leibniz Centre for European Economic Research View citations (5)
56. On the Trend Recognition and Forecasting Ability of Professional Traders
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (10)
    Also in Sonderforschungsbereich 504 Publications, Sonderforschungsbereich 504, Universität Mannheim (2003) View citations (10)
    See also Journal Article On the Trend Recognition and Forecasting Ability of Professional Traders, Decision Analysis, INFORMS (2007) View citations (38) (2007)
57. September 11 and Stock Return Expectations of Individual Investors
    Sonderforschungsbereich 504 Publications, Sonderforschungsbereich 504, Universität Mannheim View citations (1)
    See also Journal Article September 11 and Stock Return Expectations of Individual Investors, Review of Finance, European Finance Association (2005) View citations (32) (2005)

2002

58. An Experimental Analysis of Decision Weights in Cumulative Prospect Theory under Uncertainty
    Sonderforschungsbereich 504 Publications, Sonderforschungsbereich 504, Universität Mannheim
59. Momentum and Turnover: Evidence from the German Stock Market
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (1)
    Also in Sonderforschungsbereich 504 Publications, Sonderforschungsbereich 504, Universität Mannheim (2002) View citations (1)
    See also Journal Article Momentum and Turnover: Evidence from the German Stock Market, Schmalenbach Business Review (sbr), LMU Munich School of Management (2003) View citations (18) (2003)
60. The Role of Non-financial Factors in Internal Credit Ratings
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (3)
    See also Journal Article The role of non-financial factors in internal credit ratings, Journal of Banking & Finance, Elsevier (2005) View citations (135) (2005)
61. To buy or not to buy: Why do people buy too much information?
    Sonderforschungsbereich 504 Publications, Sonderforschungsbereich 504, Universität Mannheim
62. Über kurz oder lang - Welche Rolle spielt der Anlagehorizont bei Investitionsentscheidungen?
    Sonderforschungsbereich 504 Publications, Sonderforschungsbereich 504, Universität Mannheim
    Also in Papers, Sonderforschungsbreich 504 (2002)

2001

63. Framing effects on asset markets: An experimental analysis
    SFB 373 Discussion Papers, Humboldt University of Berlin, Interdisciplinary Research Project 373: Quantification and Simulation of Economic Processes View citations (4)
    Also in Sonderforschungsbereich 504 Publications, Sonderforschungsbereich 504, Universität Mannheim View citations (6)
64. How Do Prior Outcomes Affect Risky Choice? Further Evidence on the House-Money Effect and Escalation of Commitment
    Sonderforschungsbereich 504 Publications, Sonderforschungsbereich 504, Universität Mannheim View citations (4)
65. Marketmaking in the Laboratory: Does Competition Matter?
    Working Paper Series: Finance and Accounting, Department of Finance, Goethe University Frankfurt am Main
    See also Journal Article Marketmaking in the Laboratory: Does Competition Matter?, Experimental Economics, Springer (2001) View citations (13) (2001)
66. The Disposition Effect and Momentum
    Sonderforschungsbereich 504 Publications, Sonderforschungsbereich 504, Universität Mannheim View citations (3)

2000

67. A Behavioral Approach to the Asset Allocation Puzzle
    Sonderforschungsbereich 504 Publications, Sonderforschungsbereich 504, Universität Mannheim View citations (6)
68. Behavioral Finance - Idee und Überblick
    Publications of Darmstadt Technical University, Institute for Business Studies (BWL), Darmstadt Technical University, Department of Business Administration, Economics and Law, Institute for Business Studies (BWL)
69. Communicating Asset Risk: How the format of historic volatility information affects risk perception and investment decisions
    Sonderforschungsbereich 504 Publications, Sonderforschungsbereich 504, Universität Mannheim
    Also in Papers, Sonderforschungsbreich 504 (2000)
70. Finanzaktivpreise: Theorie und Evidenz
    Publications of Darmstadt Technical University, Institute for Business Studies (BWL), Darmstadt Technical University, Department of Business Administration, Economics and Law, Institute for Business Studies (BWL)
71. Generally accepted rating principles: A primer
    CFS Working Paper Series, Center for Financial Studies (CFS) View citations (2)
    See also Journal Article Generally accepted rating principles: A primer, Journal of Banking & Finance, Elsevier (2001) View citations (68) (2001)
72. Information Aggregation with Costly Information and Random Ordering: Experimental Evidence
    Sonderforschungsbereich 504 Publications, Sonderforschungsbereich 504, Universität Mannheim View citations (10)
    Also in Papers, Sonderforschungsbreich 504 (2000) View citations (9)
    See also Journal Article Information aggregation with costly information and random ordering: Experimental evidence, Journal of Economic Behavior & Organization, Elsevier (2006) View citations (24) (2006)
73. Information Aggregation with Random Ordering: Cascades and Overconfidence
    Sonderforschungsbereich 504 Publications, Sonderforschungsbereich 504, Universität Mannheim View citations (3)
    Also in Papers, Sonderforschungsbreich 504 (2000) View citations (1)
    Econometric Society World Congress 2000 Contributed Papers, Econometric Society (2000) View citations (3)
    See also Journal Article Information Aggregation with Random Ordering: Cascades and Overconfidence, Economic Journal, Royal Economic Society (2003) View citations (81) (2003)
74. Information production in credit relationship: On the role of internal ratings in commercial banking
    CFS Working Paper Series, Center for Financial Studies (CFS) View citations (23)
75. Momentumstrategien am deutschen Aktienmarkt: Neue empirische Evidenz zur Erklärung des Erfolgs
    Publications of Darmstadt Technical University, Institute for Business Studies (BWL), Darmstadt Technical University, Department of Business Administration, Economics and Law, Institute for Business Studies (BWL) View citations (4)
76. Number of bank relationships: An indicator of competition, borrower quality, or just size?
    CFS Working Paper Series, Center for Financial Studies (CFS) View citations (50)
77. The Impact of Feedback Frequency on Risk Taking: How general is the Phenomenon?
    Sonderforschungsbereich 504 Publications, Sonderforschungsbereich 504, Universität Mannheim
    Also in Papers, Sonderforschungsbreich 504 (2000)
78. The Influence of Different Investment Horizons on Risk Behavior
    Sonderforschungsbereich 504 Publications, Sonderforschungsbereich 504, Universität Mannheim
79. The Retrospective Evaluation of Payment Sequences: Duration Neglect and Peak-and-End-Effects
    Sonderforschungsbereich 504 Publications, Sonderforschungsbereich 504, Universität Mannheim View citations (1)
    Also in Papers, Sonderforschungsbreich 504 (2000) View citations (1)

1999

80. Ambiguity Aversion, Comparative Ignorance, and the Role of Context
    Sonderforschungsbereich 504 Publications, Sonderforschungsbereich 504, Universität Mannheim View citations (5)
81. Contrarian and Momentum Strategies in Germany
    Publications of Darmstadt Technical University, Institute for Business Studies (BWL), Darmstadt Technical University, Department of Business Administration, Economics and Law, Institute for Business Studies (BWL) View citations (42)
    See also Journal Article Contrarian and Momentum Strategies in Germany, Financial Analysts Journal, Taylor & Francis Journals (1999) View citations (2) (1999)
82. Der "Overconfidence Bias" und seine Konsequenzen in Finanzmärkten
    Sonderforschungsbereich 504 Publications, Sonderforschungsbereich 504, Universität Mannheim View citations (1)
83. Is there evidence for an adaptive toolbox?
    Sonderforschungsbereich 504 Publications, Sonderforschungsbereich 504, Universität Mannheim
84. Prospect-Theory, Mental Accounting and Differences in Aggregated and Segregated Evaluation of Lottery Portfolios
    Sonderforschungsbereich 504 Publications, Sonderforschungsbereich 504, Universität Mannheim
    See also Journal Article Prospect Theory, Mental Accounting, and Differences in Aggregated and Segregated Evaluation of Lottery Portfolios, Management Science, INFORMS (2001) View citations (49) (2001)
85. Wie rational sind Entscheidungen? Der SFB 504: Rationalitätskonzepte, Entscheidungsverhalten und ökonomische Modellierung
    Munich Reprints in Economics, University of Munich, Department of Economics
86. Über kurz oder lang - Spielt der Anlagehorizont eine berechtigte Rolle bei der Beurteilung von Investments?
    Sonderforschungsbereich 504 Publications, Sonderforschungsbereich 504, Universität Mannheim

1998

87. Bank behavior based on internal credit ratings of borrowers
    CFS Working Paper Series, Center for Financial Studies (CFS) View citations (143)
    See also Journal Article Bank behavior based on internal credit ratings of borrowers, Journal of Banking & Finance, Elsevier (1998) View citations (137) (1998)
88. Entscheidungsanalyse
    Sonderforschungsbereich 504 Publications, Sonderforschungsbereich 504, Universität Mannheim
89. Hindsight-Bias im Prinzipal-Agent-Kontext: Die Aktennotiz als Antwort?
    Sonderforschungsbereich 504 Publications, Sonderforschungsbereich 504, Universität Mannheim View citations (1)
90. Risikomessung im Kreditgeschäft: Eine empirische Analyse bankinterner Ratingverfahren
    Sonderforschungsbereich 504 Publications, Sonderforschungsbereich 504, Universität Mannheim View citations (7)
91. What Determines the Shape of the Probability Weighting Function under Uncertainty?
    Sonderforschungsbereich 504 Publications, Sonderforschungsbereich 504, Universität Mannheim View citations (12)
    See also Journal Article What Determines the Shape of the Probability Weighting Function Under Uncertainty?, Management Science, INFORMS (2001) View citations (159) (2001)

1997

92. Home Bias in International Stock Return Expectation
    Sonderforschungsbereich 504 Publications, Sonderforschungsbereich 504, Universität Mannheim View citations (3)
93. Reichtum durch (anti-)zyklische Handelsstrategien am deutschen Aktienmarkt
    Publications of Darmstadt Technical University, Institute for Business Studies (BWL), Darmstadt Technical University, Department of Business Administration, Economics and Law, Institute for Business Studies (BWL) View citations (6)
94. Risk-Value Efficient Portfolios and Asset Pricing
    Sonderforschungsbereich 504 Publications, Sonderforschungsbereich 504, Universität Mannheim View citations (1)
    Also in Discussion Papers, Series II, University of Konstanz, Collaborative Research Centre (SFB) 178 "Internationalization of the Economy" (1997) View citations (1)

1996

95. Parkett, IBIS oder London - Die Präferenzen institutioneller Investoren
    Publications of Darmstadt Technical University, Institute for Business Studies (BWL), Darmstadt Technical University, Department of Business Administration, Economics and Law, Institute for Business Studies (BWL)

1995

96. Zyklische und antizyklische Handelsstrategien am deutschen Aktienmarkt
    Publications of Darmstadt Technical University, Institute for Business Studies (BWL), Darmstadt Technical University, Department of Business Administration, Economics and Law, Institute for Business Studies (BWL) View citations (8)

1993

97. Die Kaufempfehlungen des "Effecten-Spiegel" - Eine empirische Untersuchung im Lichte der Effizienzthese des Kapitalmarktes
    Publications of Darmstadt Technical University, Institute for Business Studies (BWL), Darmstadt Technical University, Department of Business Administration, Economics and Law, Institute for Business Studies (BWL) View citations (1)
    Also in Manuskripte aus den Instituten für Betriebswirtschaftslehre der Universität Kiel, Christian-Albrechts-Universität zu Kiel, Institut für Betriebswirtschaftslehre (1992)
98. Marktbezogene Bestimmung von Kapitalkosten
    Publications of Darmstadt Technical University, Institute for Business Studies (BWL), Darmstadt Technical University, Department of Business Administration, Economics and Law, Institute for Business Studies (BWL)
99. Willingness-to-pay and willingness-to-accept for state contingent claims
    Manuskripte aus den Instituten für Betriebswirtschaftslehre der Universität Kiel, Christian-Albrechts-Universität zu Kiel, Institut für Betriebswirtschaftslehre

1992

100. Ambiguität und Kompetenz in experimentellen Märkten
     Manuskripte aus den Instituten für Betriebswirtschaftslehre der Universität Kiel, Christian-Albrechts-Universität zu Kiel, Institut für Betriebswirtschaftslehre
101. Besitztumseffekte: Eine theoretische und experimentelle Analyse
     Manuskripte aus den Instituten für Betriebswirtschaftslehre der Universität Kiel, Christian-Albrechts-Universität zu Kiel, Institut für Betriebswirtschaftslehre
102. Risiko und Akzeptanz von Industrieansiedlungen: Eine empirische Studie
     Manuskripte aus den Instituten für Betriebswirtschaftslehre der Universität Kiel, Christian-Albrechts-Universität zu Kiel, Institut für Betriebswirtschaftslehre
103. Testing choquet expected utility
     Manuskripte aus den Instituten für Betriebswirtschaftslehre der Universität Kiel, Christian-Albrechts-Universität zu Kiel, Institut für Betriebswirtschaftslehre
     See also Journal Article Testing choquet expected utility, Journal of Economic Behavior & Organization, Elsevier (1994) View citations (17) (1994)

1991

104. Judged knowledge and ambiguity aversion
     Manuskripte aus den Instituten für Betriebswirtschaftslehre der Universität Kiel, Christian-Albrechts-Universität zu Kiel, Institut für Betriebswirtschaftslehre View citations (1)
105. Recent developments in modelling preferences: Uncertainty and ambiguitiy
     Manuskripte aus den Instituten für Betriebswirtschaftslehre der Universität Kiel, Christian-Albrechts-Universität zu Kiel, Institut für Betriebswirtschaftslehre
     See also Journal Article Recent Developments in Modeling Preferences: Uncertainty and Ambiguity, Journal of Risk and Uncertainty, Springer (1992) View citations (514) (1992)
106. The disposition effect in securities trading: An experimental analysis
     Manuskripte aus den Instituten für Betriebswirtschaftslehre der Universität Kiel, Christian-Albrechts-Universität zu Kiel, Institut für Betriebswirtschaftslehre View citations (1)
     See also Journal Article The disposition effect in securities trading: an experimental analysis, Journal of Economic Behavior & Organization, Elsevier (1998) View citations (282) (1998)

Journal Articles

2025

1. Dynamic Inconsistency in Risky Choice: Evidence from the Lab and Field
   American Economic Review, 2025, 115, (1), 330-63
   See also Working Paper Dynamic Inconsistency in Risky Choice: Evidence from the Lab and Field, NBER Working Papers (2023) View citations (3) (2023)

2024

2. Inconsistent Retirement Timing
   Journal of Human Resources, 2024, 59, (3), 929-974

2023

3. How to Alleviate Correlation Neglect in Investment Decisions
   Management Science, 2023, 69, (6), 3400-3414 View citations (2)
4. Polarized microtubule remodeling transforms the morphology of reactive microglia and drives cytokine release
   Nature Communications, 2023, 14, (1), 1-20
5. Risk-Taking and Asymmetric Learning in Boom and Bust Markets*
   Review of Finance, 2023, 27, (5), 1743-1779 View citations (1)

2022

6. When saving is not enough – wealth decumulation in retirement
   Journal of Pension Economics and Finance, 2022, 21, (3), 446-473

2021

7. Closing a mental account: the realization effect for gains and losses
   Experimental Economics, 2021, 24, (1), 303-329 View citations (3)
8. Series hybrid fuel cell/supercapacitor power source
   Mathematics and Computers in Simulation (MATCOM), 2021, 184, (C), 21-40
9. The Perception of Dependence, Investment Decisions, and Stock Prices
   Journal of Finance, 2021, 76, (2), 797-844 View citations (8)
   See also Working Paper The Perception of Dependence, Investment Decisions, and Stock Prices, CEPR Discussion Papers (2016) View citations (1) (2016)

2019

10. Rational expectations in an experimental asset market with shocks to market trends
    European Economic Review, 2019, 114, (C), 116-140 View citations (8)
11. The Impact of Direct Cash Payments on Whole Blood Supply
    German Economic Review, 2019, 20, (4), e973-e1001
    Also in German Economic Review, 2019, 20, (4), e973-e1001 (2019)
12. Thinking about Prices versus Thinking about Returns in Financial Markets
    Journal of Finance, 2019, 74, (6), 2997-3039 View citations (39)

2018

13. Focusing on volatility information instead of portfolio weights as an aid to investor decisions
    Experimental Economics, 2018, 21, (2), 457-480 View citations (4)

2017

14. Fooled by Randomness: Investor Perception of Fund Manager Skill
    Review of Finance, 2017, 21, (2), 605-635 View citations (6)
15. Framing and retirement age: The gap between willingness-to-accept and willingness-to-pay
    Economic Policy, 2017, 32, (92), 757-809 View citations (6)

2016

16. Losing sight of the trees for the forest? Attention allocation and anomalies
    Quantitative Finance, 2016, 16, (11), 1679-1693 View citations (6)
17. Time inconsistent preferences and the annuitization decision
    Journal of Economic Behavior & Organization, 2016, 129, (C), 37-55 View citations (26)
    See also Working Paper Time Inconsistent Preferences and the Annuitization Decision, CEPR Discussion Papers (2015) View citations (1) (2015)

2015

18. On the determinants of pairs trading profitability
    Journal of Financial Markets, 2015, 23, (C), 75-97 View citations (30)

2014

19. Beware of black swans: Taking stock of the description–experience gap in decision under uncertainty
    Marketing Letters, 2014, 25, (3), 269-280 View citations (11)
20. Do investors put their money where their mouth is? Stock market expectations and investing behavior
    Journal of Banking & Finance, 2014, 46, (C), 372-386 View citations (33)
21. Establishing windbreaks: how rapidly do the smaller tree transplants reach the height of the larger ones?
    Journal of Forest Science, 2014, 60, (1), 12-17
22. Evaluating the Rating of Stiftung Warentest: How Good Are Mutual Fund Ratings and Can They Be Improved?
    European Financial Management, 2014, 20, (2), 207-235 View citations (4)
23. How should individual investors diversify? An empirical evaluation of alternative asset allocation policies
    Journal of Financial Markets, 2014, 19, (C), 62-85 View citations (43)
24. Second-order beliefs and the individual investor
    Journal of Economic Behavior & Organization, 2014, 107, (PB), 652-666 View citations (17)
25. Volatility Inadaptability: Investors Care About Risk, but Cannot Cope with Volatility
    Review of Finance, 2014, 18, (4), 1387-1423 View citations (31)

2013

26. Sometimes less is more – The influence of information aggregation on investment decisions
    Journal of Economic Behavior & Organization, 2013, 95, (C), 20-33 View citations (10)
27. The Role of Experience Sampling and Graphical Displays on One's Investment Risk Appetite
    Management Science, 2013, 59, (2), 323-340 View citations (80)
28. Who takes Risks When and Why: Determinants of Changes in Investor Risk Taking*
    Review of Finance, 2013, 17, (3), 847-883 View citations (85)

2012

29. Can Auditors be Independent? Experimental Evidence on the Effects of Client Type
    European Accounting Review, 2012, 21, (4), 797-823 View citations (5)
30. The Trading Volume Impact of Local Bias: Evidence from a Natural Experiment
    Review of Finance, 2012, 16, (4), 867-901 View citations (15)
31. Why does myopia decrease the willingness to invest? Is it myopic loss aversion or myopic loss probability aversion?
    Theory and Decision, 2012, 72, (1), 35-50 View citations (6)

2011

32. Reference-Point Formation and Updating
    Management Science, 2011, 57, (3), 506-519 View citations (102)
33. True overconfidence: The inability of rational information processing to account for apparent overconfidence
    Organizational Behavior and Human Decision Processes, 2011, 116, (2), 262-271 View citations (57)

2010

34. Credit Line Usage, Checking Account Activity, and Default Risk of Bank Borrowers
    The Review of Financial Studies, 2010, 23, (10), 3665-3699 View citations (136)
35. Financial Literacy and Mutual Fund Investments: Who Buys Actively Managed Funds?
    Schmalenbach Business Review (sbr), 2010, 62, (2), 126-153 View citations (19)
36. Funding Modes of German Banks: Structural Changes and their Implications
    Journal of Financial Services Research, 2010, 38, (2), 69-93 View citations (8)
37. How Riskily Do I Invest? The Role of Risk Attitudes, Risk Perceptions, and Overconfidence
    Decision Analysis, 2010, 7, (3), 282-301 View citations (90)
38. Loan growth and riskiness of banks
    Journal of Banking & Finance, 2010, 34, (12), 2929-2940 View citations (291)

2009

39. HOW DO MANAGERS BEHAVE IN STOCK OPTION PLANS? CLINICAL EVIDENCE FROM EXERCISE AND SURVEY DATA
    Journal of Financial Research, 2009, 32, (2), 123-155 View citations (11)
40. Hindsight Bias, Risk Perception, and Investment Performance
    Management Science, 2009, 55, (6), 1018-1029 View citations (46)
    See also Working Paper Hindsight Bias, Risk Perception, and Investment Performance, Post-Print (2009) View citations (38) (2009)
41. Recovery rates of commercial lending: Empirical evidence for German companies
    Journal of Banking & Finance, 2009, 33, (3), 505-513 View citations (77)
42. The Co†movement of Credit Default Swap, Bond and Stock Markets: an Empirical Analysis
    European Financial Management, 2009, 15, (3), 529-562 View citations (197)
43. Which past returns affect trading volume?
    Journal of Financial Markets, 2009, 12, (1), 1-31 View citations (67)
    See also Working Paper Which Past Returns Affect Trading Volume?, SIFR Research Report Series (2005) (2005)

2008

44. Does commitment or feedback influence myopic loss aversion?: An experimental analysis
    Journal of Economic Behavior & Organization, 2008, 67, (3-4), 810-819 View citations (51)
45. How Do Banks Determine Capital? Evidence from Germany
    German Economic Review, 2008, 9, (3), 354-372 View citations (4)
    Also in German Economic Review, 2008, 9, (3), 354-372 (2008) View citations (25)

2007

46. On the Trend Recognition and Forecasting Ability of Professional Traders
    Decision Analysis, 2007, 4, (4), 176-193 View citations (38)
    See also Working Paper On the Trend Recognition and Forecasting Ability of Professional Traders, CEPR Discussion Papers (2003) View citations (10) (2003)
47. Overconfidence and trading volume
    The Geneva Papers on Risk and Insurance Theory, 2007, 32, (1), 1-36 View citations (207)
    Also in The Geneva Risk and Insurance Review, 1990, 32, (1), 1-36 (1990)
    See also Working Paper Overconfidence and Trading Volume, SIFR Research Report Series (2005) View citations (3) (2005)
48. Why inexperienced investors do not learn: They do not know their past portfolio performance
    Finance Research Letters, 2007, 4, (4), 203-216 View citations (18)
    See also Working Paper Why inexperienced investors do not learn: They do not know their past portfolio performance, Sonderforschungsbereich 504 Publications (2007) View citations (18) (2007)

2006

49. Information aggregation with costly information and random ordering: Experimental evidence
    Journal of Economic Behavior & Organization, 2006, 59, (3), 423-432 View citations (24)
    See also Working Paper Information Aggregation with Costly Information and Random Ordering: Experimental Evidence, Sonderforschungsbereich 504 Publications (2000) View citations (10) (2000)
50. Portfolio Choice in the Presence of Non-Tradable Income: An Experimental Analysis
    German Economic Review, 2006, 7, (4), 427-448
    Also in German Economic Review, 2006, 7, (4), 427-448 (2006) View citations (9)
    See also Working Paper Portfolio Choice in the Presence of Nontradeable Income: An Experimental Analysis, Sonderforschungsbereich 504 Publications (2004) View citations (2) (2004)

2005

51. Choice-Based Elicitation and Decomposition of Decision Weights for Gains and Losses Under Uncertainty
    Management Science, 2005, 51, (9), 1384-1399 View citations (160)
    See also Working Paper Choice-Based Elicitation and Decomposition of Decision Weights for Gains and Losses Under Uncertainty, CEPR Discussion Papers (2003) View citations (10) (2003)
52. Communicating Asset Risk: How Name Recognition and the Format of Historic Volatility Information Affect Risk Perception and Investment Decisions
    Risk Analysis, 2005, 25, (3), 597-609 View citations (37)
53. How Do Prior Outcomes Affect Risk Attitude? Comparing Escalation of Commitment and the House-Money Effect
    Decision Analysis, 2005, 2, (1), 30-43 View citations (75)
54. Investment Decisions and Time Horizon: Risk Perception and Risk Behavior in Repeated Gambles
    Management Science, 2005, 51, (12), 1777-1790 View citations (61)
55. Myopic prospect theory vs. myopic loss aversion: how general is the phenomenon?
    Journal of Economic Behavior & Organization, 2005, 56, (1), 25-38 View citations (39)
56. Risk Aversion on Probabilities: Experimental Evidence of Deciding Between Lotteries
    Homo Oeconomicus, 2005, 22, 192-209 View citations (2)
    See also Working Paper Risk aversion on probabilities: Experimental evidence of deciding between lotteries, Other publications TiSEM (2005) View citations (2) (2005)
57. September 11 and Stock Return Expectations of Individual Investors
    Review of Finance, 2005, 9, (2), 243-279 View citations (32)
    Also in Review of Finance, 2005, 9, (2), 243-279 (2005) View citations (31)
    See also Working Paper September 11 and Stock Return Expectations of Individual Investors, Sonderforschungsbereich 504 Publications (2003) View citations (1) (2003)
58. The role of non-financial factors in internal credit ratings
    Journal of Banking & Finance, 2005, 29, (2), 509-531 View citations (135)
    See also Working Paper The Role of Non-financial Factors in Internal Credit Ratings, CEPR Discussion Papers (2002) View citations (3) (2002)

2004

59. Ansätze zur Messung der Äquivalenz von Ratingsystemen
    Zeitschrift für Bankrecht und Bankwirtschaft (ZBB) / Journal of Banking Law and Banking (JBB), 2004, 16, (1), 28-37
60. How Do People Take into Account Weight, Strength and Quality of Segregated vs. Aggregated Data? Experimental Evidence
    Journal of Risk and Uncertainty, 2004, 29, (2), 113-142 View citations (10)
61. Informational efficiency of credit default swap and stock markets: The impact of credit rating announcements
    Journal of Banking & Finance, 2004, 28, (11), 2813-2843 View citations (301)
    See also Working Paper Informational Efficiency of Credit Default Swap and Stock Markets: The Impact of Credit Rating Announcements, CEPR Discussion Papers (2004) View citations (303) (2004)

2003

62. Information Aggregation with Random Ordering: Cascades and Overconfidence
    Economic Journal, 2003, 113, (484), 166-189 View citations (81)
    See also Working Paper Information Aggregation with Random Ordering: Cascades and Overconfidence, Sonderforschungsbereich 504 Publications (2000) View citations (3) (2000)
63. Momentum and Turnover: Evidence from the German Stock Market
    Schmalenbach Business Review (sbr), 2003, 55, (2), 108-135 View citations (18)
    See also Working Paper Momentum and Turnover: Evidence from the German Stock Market, CEPR Discussion Papers (2002) View citations (1) (2002)

2002

64. Ambiguity Aversion, Comparative Ignorance, and Decision Context
    Organizational Behavior and Human Decision Processes, 2002, 88, (1), 476-498 View citations (63)

2001

65. Generally accepted rating principles: A primer
    Journal of Banking & Finance, 2001, 25, (1), 3-23 View citations (68)
    See also Working Paper Generally accepted rating principles: A primer, CFS Working Paper Series (2000) View citations (2) (2000)
66. Marketmaking in the Laboratory: Does Competition Matter?
    Experimental Economics, 2001, 4, (1), 55-85 View citations (13)
    See also Working Paper Marketmaking in the Laboratory: Does Competition Matter?, Working Paper Series: Finance and Accounting (2001) (2001)
67. Prospect Theory, Mental Accounting, and Differences in Aggregated and Segregated Evaluation of Lottery Portfolios
    Management Science, 2001, 47, (5), 716-733 View citations (49)
    See also Working Paper Prospect-Theory, Mental Accounting and Differences in Aggregated and Segregated Evaluation of Lottery Portfolios, Sonderforschungsbereich 504 Publications (1999) (1999)
68. What Determines the Shape of the Probability Weighting Function Under Uncertainty?
    Management Science, 2001, 47, (12), 1712-1726 View citations (159)
    See also Working Paper What Determines the Shape of the Probability Weighting Function under Uncertainty?, Sonderforschungsbereich 504 Publications (1998) View citations (12) (1998)

2000

69. The impact of endowment framing on market prices -- an experimental analysis
    Journal of Economic Behavior & Organization, 2000, 41, (2), 159-176 View citations (21)

1999

70. Contrarian and Momentum Strategies in Germany
    Financial Analysts Journal, 1999, 55, (6), 104-116 View citations (2)
    See also Working Paper Contrarian and Momentum Strategies in Germany, Publications of Darmstadt Technical University, Institute for Business Studies (BWL) (1999) View citations (42) (1999)

1998

71. Bank behavior based on internal credit ratings of borrowers
    Journal of Banking & Finance, 1998, 22, (10-11), 1355-1383 View citations (137)
    See also Working Paper Bank behavior based on internal credit ratings of borrowers, CFS Working Paper Series (1998) View citations (143) (1998)
72. The disposition effect in securities trading: an experimental analysis
    Journal of Economic Behavior & Organization, 1998, 33, (2), 167-184 View citations (282)
    See also Working Paper The disposition effect in securities trading: An experimental analysis, Manuskripte aus den Instituten für Betriebswirtschaftslehre der Universität Kiel (1991) View citations (1) (1991)

1997

73. An Empirical Study on Intertemporal Decision Making Under Risk
    Management Science, 1997, 43, (6), 813-826 View citations (65)
74. Preference for gradual resolution of uncertainty
    Theory and Decision, 1997, 43, (2), 167-185 View citations (20)

1995

75. Ambiguity Aversion in First-Price Sealed-Bid Auctions
    Journal of Risk and Uncertainty, 1995, 11, (2), 123-37 View citations (44)
76. Willingness-to-Pay and Willingness-to-Accept for Risky and Ambiguous Lotteries
    Journal of Risk and Uncertainty, 1995, 10, (3), 223-33 View citations (56)

1994

77. An empirical comparison of utility assessment programs
    European Journal of Operational Research, 1994, 75, (3), 617-633 View citations (2)
78. Testing choquet expected utility
    Journal of Economic Behavior & Organization, 1994, 25, (3), 437-457 View citations (17)
    See also Working Paper Testing choquet expected utility, Manuskripte aus den Instituten für Betriebswirtschaftslehre der Universität Kiel (1992) (1992)

1993

79. Behavioral influences on weight judgments in multiattribute decision making
    European Journal of Operational Research, 1993, 67, (1), 1-12 View citations (105)
80. Effects of Ambiguity in Market Experiments
    Management Science, 1993, 39, (5), 602-615 View citations (72)
81. Risk-value models
    European Journal of Operational Research, 1993, 70, (2), 135-149 View citations (53)
82. The Effect of Attribute Ranges on Weights in Multiattribute Utility Measurements
    Management Science, 1993, 39, (8), 937-943 View citations (52)

1992

83. Recent Developments in Modeling Preferences: Uncertainty and Ambiguity
    Journal of Risk and Uncertainty, 1992, 5, (4), 325-70 View citations (514)
    See also Working Paper Recent developments in modelling preferences: Uncertainty and ambiguitiy, Manuskripte aus den Instituten für Betriebswirtschaftslehre der Universität Kiel (1991) (1991)

1989

84. Stochastic dominance with incomplete information on probabilities
    European Journal of Operational Research, 1989, 43, (3), 350-355 View citations (3)
85. The Curse of Knowledge in Economic Settings: An Experimental Analysis
    Journal of Political Economy, 1989, 97, (5), 1232-54 View citations (140)

1988

86. The Effects of Splitting Attributes on Weights in Multiattribute Utility Measurement
    Management Science, 1988, 34, (4), 431-445 View citations (58)

1987

87. Decision making with incomplete information
    European Journal of Operational Research, 1987, 28, (1), 44-57 View citations (99)

1986

88. Empirical investigation of some properties of the perceived riskiness of gambles
    Organizational Behavior and Human Decision Processes, 1986, 38, (1), 114-130 View citations (22)

1985

89. A Method of Multiattribute Decision Making with Incomplete Information
    Management Science, 1985, 31, (11), 1365-1371 View citations (28)

Books

2010

1. Bankbetriebslehre
   Springer Books, Springer
2. Rational Decision Making
   Springer Books, Springer

Chapters

2022

1. Experiments in finance: From no to maybe to yes
   Chapter 2 in Handbook of Experimental Finance, 2022, pp 17-25

2019

2. Towards Designing Robo-advisors for Unexperienced Investors with Experience Sampling of Time-Series Data
   Springer View citations (3)

2010

3. Decision making under certainty and with multiple objectives: multiattribute value functions
   Springer
4. Decision making under certainty with one objective
   Springer
5. Decision under risk: incomplete information and multiple objectives
   Springer
6. Decisions under risk and one objective
   Springer
7. Descriptive aspects of decision making
   Springer
8. Framing Effects, Selective Information and Market Behavior: An Experimental Analysis
   Chapter 1 in Handbook of Behavioral Finance, 2010 View citations (1)
   See also Working Paper Framing Effects, Selective Information and Market Behavior ­ An Experimental Analysis ­, Max Planck Institute of Economics, Strategic Interaction Group (2004) View citations (4) (2004)
9. Generating and preselecting alternatives
   Springer
10. Generating objectives and hierarchies
    Springer
11. Group decisions
    Springer
12. Simulation of an objective variable’s probability distribution
    Springer
13. Structuring the decision problem
    Springer
14. The generation of probabilities
    Springer
15. Time preferences under certain expectations
    Springer
16. What decision analysis is about
    Springer