Trading as entertainment Daniel Dorn (Drexel University) Paul Sengm ü ller (UvA Business School) Research questions Can entertainment motives help explain variation in trading activity across people? What is the magnitude of entertainment-motivated trading?
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Daniel Dorn (Drexel University)
Paul Sengmüller (UvA Business School)
I enjoy investing. (”Es macht mir Spaß, mich mit Geldanlagen zu befassen.”)
I enjoy risky propositions. (“Ich habe Spaß an riskanten Unternehmungen.")
Games are only fun when money is involved. (“Spiele machen erst dann richtig Spaß, wenn es um Geld geht.”)
In gambling, the fascination increases with the size of the bet. (“Bei Glücksspielen steigt die Faszination mit dem Wetteinsatz.")
(Respondents indicate their agreement with each statement on a five-point Likert scale)
Similar results when we control for
Only important accounts
Infer overconfidence from agreement with: