Financial risk information avoidance

Anna Blajer-Gołębiewska , Dagmara Wach , Maciej Kos

Abstract

Availability of information is one of the most important factors for financial decision-makers. Having complete information about the probability of losing money should always leave decision-makers better off. However, in some situations financial decision-makers prefer to know less than more. In this study we investigated the impact of selected characteristics of financial threats on individuals’ decisions to avoid risk information in an incentivised online experiment. We found that threat severity, relative risk, and effectiveness of threat prevention alone do not influence decisions to avoid risk information. However, we did find an interaction effect between the first two treatments. Furthermore, our data suggest that coping style, locus of control, and anticipated emotional response are statistically significant predictors of financial risk information avoidance.
Author Anna Blajer-Gołębiewska (FE / DMicro)
Anna Blajer-Gołębiewska,,
- Department of Microeconomics
, Dagmara Wach (FE / IMTST)
Dagmara Wach,,
- Institute of Maritime Transport and Seaborne Trade
, Maciej Kos
Maciej Kos,,
-
Journal seriesEkonomska Istrazivanja-Economic Research, ISSN 1331-677X, (A 15 pkt)
Issue year2018
Vol31
No1
Pages521-536
Publication size in sheets0.75
Keywords in Englishcriteria for decision-making under risk and uncertainty, behavioural finance, behavioural microeconomics, design of experiments, information, uncertainty
DOIDOI:10.1080/1331677X.2018.1439396
URL https://doi.org/10.1080/1331677X.2018.1439396
Languageen angielski
LicenseJournal (articles only); published final; Uznanie Autorstwa (CC-BY); with publication
Score (nominal)15
ScoreMinisterial score = 15.0, 03-04-2018, ArticleFromJournal
Ministerial score (2013-2016) = 15.0, 03-04-2018, ArticleFromJournal
Publication indicators WoS Impact Factor: 2016 = 0.742 (2) - 2016=0.559 (5)
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* presented citation count is obtained through Internet information analysis and it is close to the number calculated by the Publish or Perish system.
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