Depression Babies: Do Macroeconomic Experiences Affect Risk-Taking?

By Ulrike Malmendier, Stefan Nagel. 2011

2,313 citations recorded by the source corpus.

Subfields: Accounting, Economics and Econometrics

View Paper: https://www.semanticscholar.org/paper/075d7812248364addca4485ba732de96c42644d6

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Citations in the corpus

Stock Price Booms and Expected Capital Gains (2017, neutral): “Section 3.4 then illustrates how simple adaptive price predictions, in line with Malmendier and Nagel (2011, 2013), quantitatively capture the relationship between survey expectations and the PD ratio.”
Trust, Risk, and Time Preferences After a Natural Disaster: Experimental Evidence from Thailand (2017, background): “These effects are consistent with other evidence that observations of risky environments where events have turned out badly can lead to greater risk aversion (e.g., Malmendier & Nagel, 2011).”
What Matters to Individual Investors? Evidence from the Horse's Mouth (2018, neutral): “Malmendier and Nagel (2011) find evidence that households who have lived through high stock market returns invest more in stocks.”
Personal Experiences and Expectations about Aggregate Outcomes (2019, positive): “Models of age-dependent updating (as in Malmendier and Nagel [2016]) predict that the effect of recent past experiences on expectations should decrease with age. If individuals form expectations based on the entire history of local house prices they have themselves witnessed, one would expect younge”
Learning from Inflation Experiences (2016, methodology): “We derive the weighting of past data implied by the learning-from-experience algorithm proposed in equations (1) to (4), and show that the implicit weights on past observations correspond almost exactly to the (ad-hoc) weighting function in Malmendier and Nagel (2011). Moreover, the parameter θ that”
ENTREPRENEURIAL INCEPTION: THE ROLE OF IMPRINTING IN ENTREPRENEURIAL ACTION (SUMMARY) (2013, background): “Extant research has also demonstrated that individuals can be imprinted through a variety of sources, such as through economic conditions (Malmendier and Nagel, 2011), institutional conditions (Dokko et al., 2009; Higgins, 2005), equity partners (Breugst et al., 2014-in this issue), familymembers…”
Socioeconomic Status and Macroeconomic Expectations (2017, positive): “The model allows us to draw connections between heterogeneity in macroeconomic beliefs, the experimental evidence, and the notion that personal experiences influence the formation of expectations, as in Malmendier and Nagel (2011) and other recent work.”
Do Managers Overreact to Salient Risks? Evidence from Hurricane Strikes (2017, result): “Because saliency is experienced-based, our paper also adds to a number of papers showing that past experiences affect subsequent risk-taking (Malmendier and Nagel, 2011; 6 Greenwood and Nagel, 2009) and corporate policy choices (Malmendier et al., 2011; Benmelech and Frydman, 2015; Bernile et al.,…”