Natural language processing meets behavioral finance: Vagueness, risk perception, and volatility

Heiner Stuckenschmidt

This paper presents a validated survey questionnaire for measuring time, risk and social preferences (altruism, positive reciprocity, negative reciprocity and trust) with children as young as 9 years old. The survey questions are validated against incentivized games measuring the same preference. We show that 1-4 survey questions can be used as a proxy for the experimentally elicited behavior with an explanatory power between 11% and 34.8%.

http://ftp.iza.org/dp9674.pdf

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