Emotions and financial risk-taking in the lab: A meta-analysis
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216224%3A14560%2F23%3A00131424" target="_blank" >RIV/00216224:14560/23:00131424 - isvavai.cz</a>
Result on the web
<a href="https://onlinelibrary.wiley.com/doi/full/10.1002/bdm.2342" target="_blank" >https://onlinelibrary.wiley.com/doi/full/10.1002/bdm.2342</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.1002/bdm.2342" target="_blank" >10.1002/bdm.2342</a>
Alternative languages
Result language
angličtina
Original language name
Emotions and financial risk-taking in the lab: A meta-analysis
Original language description
This paper is a meta-analysis of experimental studies dealing with the impact of incidental emotions (happiness, sadness, fear, and anger) on financial risk-taking, so as to explain traditional heterogeneity of outcomes in the literature. After devising a standard search strategy and including studies that comply with a list of eligibility criteria, we code 114 effect sizes at the treatment level from 26 selected articles, and a battery of moderator variables representing design and sample characteristics. Meta-regressions with adjusted predictions find causal impact of fear on risk aversion, albeit to a small extent. On the contrary, average null effects characterize happiness, sadness, and anger. It also turns out that when studies provide financial incentives, country-level individualism moderates the relationship between emotions and risk-taking by increasing risk propensity. We discuss possible interpretations of our findings.
Czech name
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Czech description
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Classification
Type
J<sub>imp</sub> - Article in a specialist periodical, which is included in the Web of Science database
CEP classification
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OECD FORD branch
50200 - Economics and Business
Result continuities
Project
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Continuities
I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace
Others
Publication year
2023
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Name of the periodical
JOURNAL OF BEHAVIORAL DECISION MAKING
ISSN
0894-3257
e-ISSN
1099-0771
Volume of the periodical
36
Issue of the periodical within the volume
4
Country of publishing house
GB - UNITED KINGDOM
Number of pages
16
Pages from-to
1-16
UT code for WoS article
001032280400001
EID of the result in the Scopus database
2-s2.0-85165452705