Christoph Merkle

Kuehne Logistics University

Associate Professor of Finance

Großer Grasbrook 17

Hamburg, 20457

Germany

http://www.the-klu.org

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SCHOLARLY PAPERS

14

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8

Scholarly Papers (14)

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1.

Emotion and Finance - An Interdisciplinary Approach to the Impact of Emotions on Financial Decision Making

Number of pages: 73 Posted: 24 Feb 2008
Christoph Merkle
Kuehne Logistics University
Downloads 1,602 (9,571)
Citation 1

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emotion, rationality, decision making, neuroeconomics, neurofinance, behavioral finance

2.

Financial Overconfidence Over Time: Foresight, Hindsight, and Insight of Investors

Journal of Banking and Finance, 2017, Vol. 84, pp. 68-87. Preprint Version, AFA 2013 San Diego Meetings Paper
Number of pages: 59 Posted: 08 Feb 2012 Last Revised: 08 Dec 2017
Christoph Merkle
Kuehne Logistics University
Downloads 662 (35,799)
Citation 1

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Overconfidence, Trading, Diversification, Risk Taking, Expectations, Hindsight

3.

True Overconfidence: The Inability of Rational Information Processing to Account for Apparent Overconfidence

Organizational Behavior and Human Decision Processes, Vol. 116, No. 2, pp. 262-271
Number of pages: 43 Posted: 06 Apr 2009 Last Revised: 08 Feb 2012
Christoph Merkle and Martin Weber
Kuehne Logistics University and University of Mannheim - Department of Banking and Finance
Downloads 443 (59,837)
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Overconfidence, Better-than-average effect, Overplacement, Bayesian updating, Belief distribution

4.

Second-order Beliefs and the Individual Investor

Journal of Economic Behavior and Organization, 2014, Vol. 107(B), pp. 652-666.
Number of pages: 31 Posted: 17 Mar 2010 Last Revised: 17 Dec 2014
Daniel P. Egan, Christoph Merkle and Martin Weber
Betterment.com, Kuehne Logistics University and University of Mannheim - Department of Banking and Finance
Downloads 346 (80,198)
Citation 1

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Expectations, Naive Realism, Stock-Market, Second-Order-Beliefs, False Consensus E ffect, Bias Blind Spot, Beauty Contest

5.

Investor Happiness

Journal of Economic Psychology, Vol. 49, pp. 167-186, 2015
Number of pages: 44 Posted: 26 Sep 2013 Last Revised: 18 Jun 2015
Christoph Merkle, Daniel P. Egan and Greg B Davies
Kuehne Logistics University, Betterment.com and University of Oxford - Said Business School
Downloads 310 (90,795)

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Happiness, Expectation, Experience, Individual Investors

6.

Do Investors Put Their Money Where Their Mouth Is? Stock Market Expectations and Investing Behavior

Journal of Banking and Finance, Vol. 46, pp. 372-386.
Number of pages: 46 Posted: 18 Mar 2011 Last Revised: 21 Aug 2014
Christoph Merkle and Martin Weber
Kuehne Logistics University and University of Mannheim - Department of Banking and Finance
Downloads 307 (91,760)
Citation 3

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Expectations, Beliefs, Risk, Return, Trading Behavior, Portfolio Choice

7.

Inconsistent Retirement Timing

Number of pages: 54 Posted: 11 May 2016 Last Revised: 21 Dec 2017
Christoph Merkle, Philipp Schreiber and Martin Weber
Kuehne Logistics University, University of Mannheim - Finance Department and University of Mannheim - Department of Banking and Finance
Downloads 306 (92,099)

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Retirement Timing, Time Preferences, Hyperbolic Discounting, Social Security

8.

Low Risk and High Return – Affective Attitudes and Stock Market Expectations

Downloads 278 (102,230)

Low Risk and High Return – Affective Attitudes and Stock Market Expectations

This is the accepted version of the following article: Kempf, A., Merkle, C. and Niessen-Ruenzi, A. (2014), Low Risk and High Return – Affective Attitudes and Stock Market Expectations. European Financial Management, 20: 995–1030, which has been published in final form at doi: 10.1111/eufm.12001.
Number of pages: 51 Posted: 11 Feb 2009 Last Revised: 22 Sep 2016
Alexander Kempf, Christoph Merkle and Alexandra Niessen-Ruenzi
University of Cologne - Department of Finance & Centre for Financial Research (CFR), Kuehne Logistics University and University of Mannheim - Department of Finance
Downloads 278 (101,730)

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Emotions, Risk and Return Expectations, Behavioral Finance, Affect Heuristic

Low Risk and High Return – Affective Attitudes and Stock Market Expectations

European Financial Management, Vol. 20, Issue 5, pp. 995-1030, 2014
Number of pages: 36 Posted: 31 Oct 2014
Alexander Kempf, Christoph Merkle and Alexandra Niessen-Ruenzi
University of Cologne - Department of Finance & Centre for Financial Research (CFR), Kuehne Logistics University and University of Mannheim - Department of Finance
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affective attitudes, risk and return expectations, behavioural finance, affect heuristic

9.

Fooled by Randomness: Investor Perception of Fund Manager Skill

Review of Finance, 2017, Vol. 21, No. 2, pp. 605-635. This is the accepted version of doi: 10.1093/rof/rfw011
Number of pages: 48 Posted: 09 Sep 2014 Last Revised: 02 Apr 2018
Justus Heuer, Christoph Merkle and Martin Weber
University of Mannheim - Finance Area, Kuehne Logistics University and University of Mannheim - Department of Banking and Finance
Downloads 217 (131,542)

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Mutual Fund Performance, Skill, Luck, Return Chasing, False Discovery

10.

Financial Loss Aversion Illusion

Number of pages: 64 Posted: 05 Jun 2014 Last Revised: 01 Mar 2017
Christoph Merkle
Kuehne Logistics University
Downloads 169 (165,454)

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Loss Aversion, Individual Investors, Expectations, Affective Forecasting, Projection Bias

11.

Framing and Retirement Age: The Gap between Willingness-to-Accept and Willingness-to-Pay

Economic Policy, Vol. 32(92), pp. 757-809, 2017, DOI: org/10.1093/epolic/eix014, 64th Panel Meeting of Economic Policy, October 2016
Number of pages: 69 Posted: 09 Apr 2014 Last Revised: 29 Oct 2017
Christoph Merkle, Philipp Schreiber and Martin Weber
Kuehne Logistics University, University of Mannheim - Finance Department and University of Mannheim - Department of Banking and Finance
Downloads 147 (186,227)

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Retirement Decision, Willigness-to-pay, Willigness-to-accept, Social Security

12.

The Curious Case of Negative Volatility

Journal of Financial Markets, Vol. 40, pp. 92-108, 2018, DOI: 10.1016/j.finmar.2017.11.001
Number of pages: 36 Posted: 22 Sep 2016 Last Revised: 21 Oct 2018
Christoph Merkle
Kuehne Logistics University
Downloads 122 (215,822)

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Risk Perception, Volatility, Overconfidence, Miscalibration, Diversification

13.

Closing a Mental Account: The Realization Effect for Gains and Losses

Number of pages: 58 Posted: 17 Jun 2018 Last Revised: 22 Aug 2018
Christoph Merkle, Jan Müller-Dethard and Martin Weber
Kuehne Logistics University, University of Mannheim and University of Mannheim - Department of Banking and Finance
Downloads 67 (316,561)

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Realization Effect, Mental Accounting, House Money Effect, Risk Taking.

14.

The Effect of CEO Extraversion on Analyst Forecasts: Stereotypes and Similarity Bias

The Financial Review, 2018, Forthcoming.
Number of pages: 57 Posted: 07 Jun 2017 Last Revised: 29 Apr 2018
Jochen Becker, Josip Medjedovic and Christoph Merkle
German Graduate School of Management and Law, German Graduate School of Management and Law and Kuehne Logistics University
Downloads 61 (332,320)

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Financial analyst, CEO personality, nonfinancial information, stereotyping heuristic, similarity bias, extraversion