TY  - UNPD
A1  - Halko, Marja Liisa
A1  - Kaustia, Markku
T1  - Are risk preferences dynamic? : Within-subject variation in risk-taking as a function of background music
T2  - Center for Financial Studies (Frankfurt am Main): CFS working paper series ; No. 2012,9
N2  - This paper investigates whether preference interactions can explain why risk preferences change over time and across contexts. We conduct an experiment in which subjects accept or reject gambles involving real money gains and losses. We introduce within-subject variation by alternating subjectively liked music and disliked music in the background. We find that favourite music increases risk-taking, and disliked music suppresses risk-taking, compared to a baseline of no music. Several theories in psychology propose mechanisms by which mood affects risktaking, but none of them fully explain our results. The results are, however, consistent with preference complementarities that extend to risk preference.
T3  - CFS working paper series - 2012, 09 
KW  - Risk Taking
KW  - Music
KW  - Preference Interaction
Y1  - 2012
UR  - http://publikationen.ub.uni-frankfurt.de/frontdoor/index/index/docId/27252
UR  - https://nbn-resolving.org/urn:nbn:de:hebis:30:3-272526
IS  - Version March 28, 2012
PB  - CFS
CY  - Frankfurt am Main
ER  -