Rene Schwaiger, PhD

Rene Schwaiger, PhD

I am a Post Doctoral Researcher at the Department of Banking and Finance and the Scientific Coordinator of Lab Operations at the Innsbruck EconLab at the University of Innsbruck. My research focuses on experimental economics, especially environmental economics, experimental finance, and meta-science.

Determinants of investor expectations and satisfaction. A study with financial professionals

Published in Journal of Economic Dynamics & Control, 2019

Abstract: We investigate determinants of price expectations and satisfaction levels of financial pro- fessionals and students. In experiments with 150 professionals and 576 students, we sys- tematically vary price paths according to the final return (positive or negative) and the way in which the final return is achieved (upswing followed by downswing or vice versa). Professionals show the most optimistic price expectations and are most satisfied if as- sets fall in price first and then recover. In addition, professionals’ price expectations are highest after positive returns. Among students, qualitatively similar patterns emerge, but professionals’ price expectations are less prone to framing effects.

Recommended citation: Schwaiger, R., Kirchler, M., Lindner, F., & Weitzel, U. (2020). Determinants of investor expectations and satisfaction: A study with financial professionals. Journal of Economic Dynamics & Control, 110, 103675.
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