. Experiment 2: Social Proof Experiment Control: Cognitive Reflection Test (CRT) + Preference Elicitation Source: Authors’ design Expert recommen dation non-expert recommen dation Simple life insurance 1 2
for words that indicate obvious bias or hyperbole (e.g., “fail,” “lag,” “applaud”) and replace them. } Research your sources to ensure that they are reputable. } Always ask someone else to review and
Like the IOSCO CRA Principles, the IOSCO CRA Code is also intended to be useful to all types of CRAs relying on a variety of different business models. The IOSCO CRA Code does not indicate a preference
SEC (Dec 2014) 6 Source: 2015 Investment Company Fact Book. Investment Company Institute. 2015 In the US, investor preference towards lower-cost funds makes the asset-weighted fees at the industry level
Lifecycle Thailand × Know Your Client Process– Standard risk questionnaire × Focus primarily on risk preference (i.e., an investor’s aversion to risk) and ignore risk capacity (i.e., an investor’s ability to
representativeness bias in performance presentation, investors might be subject to framing bias and loss aversion when interpreting the product values. Loss aversion Target/expected/guaranteed return at 8% in 8
variety of different business models. The IOSCO CRA Code does not indicate a preference for one business model over another, nor are the measures described herein designed to be used only by CRAs with large
product design and representativeness bias in performance presentation, investors might be subject to framing bias and loss aversion when interpreting the product values. http://market.sec.or.th/public
the date 𝜏𝑖𝑗 that the stock is first added to the fund portfolio. This measure uses only information available at the time in order to prevent the look-ahead bias. Then, in each month 𝑡, we
& Imperatore, 2014) Managers’ risk preference (Sutton, 1988) Meet or beat the expectations of financial analysts (Zang, 2012; Matsumoto, 2002) Stock –financed acquisitions (Cohen & Zarowin, 2010) Political