A critical perspective on the conceptualization of risk in behavioral and experimental finance
Felix Holzmeister (),
Christoph Huber and
No 2021-06, Working Paper Series, Social and Economic Sciences from Faculty of Social and Economic Sciences, Karl-Franzens-University Graz
Risk is one of the key aspects in financial decision-making and therefore an integral part of the behavioral economics and finance literature. Focusing on the conceptualization of the term ``risk'', which researchers have addressed from numerous angles, this comment aims to offer a critical perspective on the interactions between risk preferences (a latent trait), risk perceptions (how individuals judge whether something is risky), and risk-taking behavior as distinct concepts, and hence to guide future research on (individual-level) decision-making processes in this direction.
Pages: 9 pages
New Economics Papers: this item is included in nep-ban, nep-cbe, nep-cwa, nep-exp, nep-isf, nep-rmg and nep-upt
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Chapter: A critical perspective on the conceptualization of risk in behavioral and experimental finance (2022)
Working Paper: A Critical Perspective on the Conceptualization of Risk in Behavioral and Experimental Finance (2021)
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Persistent link: https://EconPapers.repec.org/RePEc:grz:wpsses:2021-06
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