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Risk Perception in the Short Run and in the Long Run |
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| Authors: | Jamil Baz Eric Briys Bart J Bronnenberg Michèle Cohen Robert Kast Pascale Viala Luc Wathieu Martin Weber Klaus Wertenbroch |
| Institution: | (1) Lehman Brothers, USA;(2) University of Texas, USA;(3) University of Paris I, France;(4) CNRS, Greq Aix-Marseille, France;(5) European Investment Bank, UK;(6) Harvard Business School, USA;(7) University of Mannheim, Germany;(8) Yale School of Management, USA |
| Abstract: | There is an ongoing controversy in financial economics regarding the role of time horizon in portfolio selection. This problem is relevant in a broader context, wherever consumers or managers make decisions that involve both time and risk. The purpose of this paper is to review recent findings from the decision making literature so as to shed new light on how the short run vs. long run contingency may determine risk taking and perception. |
| Keywords: | decision making under risk and uncertainty time horizon risk perception temporal diversification |
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