Abstract

http://ssrn.com/abstract=1958215
 
 

References (44)



 
 

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'O Sole Mio: An Experimental Analysis of Weather and Risk Attitudes in Financial Decisions


Anna Bassi


UNC Chapel Hill

Riccardo Colacito


University of North Carolina Kenan-Flagler Business School

Paolo Fulghieri


University of North Carolina Kenan-Flagler Business School; European Corporate Governance Institute (ECGI)

November 23, 2012


Abstract:     
While weather has been shown to affect financial markets and financial decision making, a still open question is the channel through which such influence is exerted. By employing a multiple price list method, this paper provides direct experimental evidence that sunshine and good weather promote risk taking behavior. This effect is present whether relying on objective measures of meteorological conditions or subjective weather assessments. Finally, employing a psychological test, we find evidence that weather may affect individual risk tolerance through its effect on mood.

Number of Pages in PDF File: 38

Keywords: Experiments, Risk Aversion, Weather, Sunshine

JEL Classification: C91, D03, G02

working papers series


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Date posted: November 12, 2011 ; Last revised: November 30, 2013

Suggested Citation

Bassi, Anna and Colacito, Riccardo and Fulghieri, Paolo, 'O Sole Mio: An Experimental Analysis of Weather and Risk Attitudes in Financial Decisions (November 23, 2012). Available at SSRN: http://ssrn.com/abstract=1958215 or http://dx.doi.org/10.2139/ssrn.1958215

Contact Information

Anna Bassi
UNC Chapel Hill ( email )
Department of Political Science
361 Hamilton Hall, CB#3265
Chapel Hill, NC 27599-3265
United States
(919) 962-0404 (Phone)
(919) 962-0432 (Fax)
HOME PAGE: http://www.unc.edu/~abassi
Riccardo Colacito (Contact Author)
University of North Carolina Kenan-Flagler Business School ( email )
Kenan-Flagler Business School
Chapel Hill, NC 27599-3490
United States
HOME PAGE: http://www.unc.edu/~colacitr

Paolo Fulghieri
University of North Carolina Kenan-Flagler Business School ( email )
Kenan-Flagler Business School
Chapel Hill, NC 27599-3490
United States

European Corporate Governance Institute (ECGI)
c/o ECARES ULB CP 114
B-1050 Brussels
Belgium
HOME PAGE: http://www.ecgi.org
Feedback to SSRN


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