Determinants of individual sustainable investment behavior - A framed field experiment
Gunnar Gutsche (),
Heike Wetzel () and
Andreas Ziegler ()
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Gunnar Gutsche: University of Kassel
Andreas Ziegler: University of Kassel
MAGKS Papers on Economics from Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung)
This paper employs a new empirical approach for eliciting preferences for and determinants of sustainable investments at the individual investor level. We examine data from an incentivized framed field experiment that was part of a representative survey among financial decision makers in German households. The analysis reveals strong preferences for sustainable funds. These preferences are especially driven by non-pecuniary factors such as financial literacy, environmental values, and social norms. Interestingly, economic preferences or the Big Five personality traits are only of minor relevance. Our results provide useful implications for the discussion on how to mobilize individual investors for sustainable development.
Keywords: Sustainable investments; individual investors; determinants; revealed preferences; framed field experiment (search for similar items in EconPapers)
JEL-codes: A12 A13 G02 G11 Q56 (search for similar items in EconPapers)
Pages: 67 pages
New Economics Papers: this item is included in nep-env, nep-exp and nep-fle
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Persistent link: https://EconPapers.repec.org/RePEc:mar:magkse:202033
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