Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
5090113 | Journal of Banking & Finance | 2010 | 12 Pages |
Abstract
We analyze the investment behavior of private clients with regard to retail structured products. To ascertain their stated and revealed preferences, we use a questionnaire and a field experiment. The real product issued in the field experiment is comparable to the hypothetical product in the questionnaire in terms of both payoff and communication. We find that a product described in simple words strongly motivates people to invest in structured products for the first time, and also eliminates gender differences. However, the real product attracts far fewer first-time buyers than we expected from the questionnaire results.
Keywords
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Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Barbara Döbeli, Paolo Vanini,