---
_id: '62017'
article_number: '112671'
author:
- first_name: Thomas
  full_name: Mayrhofer, Thomas
  last_name: Mayrhofer
- first_name: Hendrik
  full_name: Schmitz, Hendrik
  id: '48879'
  last_name: Schmitz
citation:
  ama: Mayrhofer T, Schmitz H. Prudence and prevention – empirical evidence. <i>Economics
    Letters</i>. 2025;257. doi:<a href="https://doi.org/10.1016/j.econlet.2025.112671">10.1016/j.econlet.2025.112671</a>
  apa: Mayrhofer, T., &#38; Schmitz, H. (2025). Prudence and prevention – empirical
    evidence. <i>Economics Letters</i>, <i>257</i>, Article 112671. <a href="https://doi.org/10.1016/j.econlet.2025.112671">https://doi.org/10.1016/j.econlet.2025.112671</a>
  bibtex: '@article{Mayrhofer_Schmitz_2025, title={Prudence and prevention – empirical
    evidence}, volume={257}, DOI={<a href="https://doi.org/10.1016/j.econlet.2025.112671">10.1016/j.econlet.2025.112671</a>},
    number={112671}, journal={Economics Letters}, publisher={Elsevier BV}, author={Mayrhofer,
    Thomas and Schmitz, Hendrik}, year={2025} }'
  chicago: Mayrhofer, Thomas, and Hendrik Schmitz. “Prudence and Prevention – Empirical
    Evidence.” <i>Economics Letters</i> 257 (2025). <a href="https://doi.org/10.1016/j.econlet.2025.112671">https://doi.org/10.1016/j.econlet.2025.112671</a>.
  ieee: 'T. Mayrhofer and H. Schmitz, “Prudence and prevention – empirical evidence,”
    <i>Economics Letters</i>, vol. 257, Art. no. 112671, 2025, doi: <a href="https://doi.org/10.1016/j.econlet.2025.112671">10.1016/j.econlet.2025.112671</a>.'
  mla: Mayrhofer, Thomas, and Hendrik Schmitz. “Prudence and Prevention – Empirical
    Evidence.” <i>Economics Letters</i>, vol. 257, 112671, Elsevier BV, 2025, doi:<a
    href="https://doi.org/10.1016/j.econlet.2025.112671">10.1016/j.econlet.2025.112671</a>.
  short: T. Mayrhofer, H. Schmitz, Economics Letters 257 (2025).
date_created: 2025-10-30T08:31:54Z
date_updated: 2025-10-30T09:06:38Z
department:
- _id: '281'
doi: 10.1016/j.econlet.2025.112671
intvolume: '       257'
language:
- iso: eng
publication: Economics Letters
publication_identifier:
  issn:
  - 0165-1765
publication_status: published
publisher: Elsevier BV
status: public
title: Prudence and prevention – empirical evidence
type: journal_article
user_id: '37953'
volume: 257
year: '2025'
...
---
_id: '15306'
article_number: '108887'
author:
- first_name: Matthias
  full_name: Pelster, Matthias
  id: '67265'
  last_name: Pelster
  orcid: ' https://orcid.org/0000-0001-5740-2420'
citation:
  ama: 'Pelster M. The gambler’s and hot-hand fallacies: Empirical evidence from trading
    data. <i>Economics Letters</i>. 2020;187. doi:<a href="https://doi.org/10.1016/j.econlet.2019.108887">10.1016/j.econlet.2019.108887</a>'
  apa: 'Pelster, M. (2020). The gambler’s and hot-hand fallacies: Empirical evidence
    from trading data. <i>Economics Letters</i>, <i>187</i>. <a href="https://doi.org/10.1016/j.econlet.2019.108887">https://doi.org/10.1016/j.econlet.2019.108887</a>'
  bibtex: '@article{Pelster_2020, title={The gambler’s and hot-hand fallacies: Empirical
    evidence from trading data}, volume={187}, DOI={<a href="https://doi.org/10.1016/j.econlet.2019.108887">10.1016/j.econlet.2019.108887</a>},
    number={108887}, journal={Economics Letters}, author={Pelster, Matthias}, year={2020}
    }'
  chicago: 'Pelster, Matthias. “The Gambler’s and Hot-Hand Fallacies: Empirical Evidence
    from Trading Data.” <i>Economics Letters</i> 187 (2020). <a href="https://doi.org/10.1016/j.econlet.2019.108887">https://doi.org/10.1016/j.econlet.2019.108887</a>.'
  ieee: 'M. Pelster, “The gambler’s and hot-hand fallacies: Empirical evidence from
    trading data,” <i>Economics Letters</i>, vol. 187, 2020.'
  mla: 'Pelster, Matthias. “The Gambler’s and Hot-Hand Fallacies: Empirical Evidence
    from Trading Data.” <i>Economics Letters</i>, vol. 187, 108887, 2020, doi:<a href="https://doi.org/10.1016/j.econlet.2019.108887">10.1016/j.econlet.2019.108887</a>.'
  short: M. Pelster, Economics Letters 187 (2020).
date_created: 2019-12-11T16:11:57Z
date_updated: 2022-01-06T06:52:20Z
department:
- _id: '186'
- _id: '578'
doi: 10.1016/j.econlet.2019.108887
intvolume: '       187'
language:
- iso: eng
publication: Economics Letters
publication_identifier:
  issn:
  - 0165-1765
publication_status: published
status: public
title: 'The gambler’s and hot-hand fallacies: Empirical evidence from trading data'
type: journal_article
user_id: '67265'
volume: 187
year: '2020'
...
---
_id: '9920'
author:
- first_name: Marlon
  full_name: Fritz, Marlon
  last_name: Fritz
- first_name: Thomas
  full_name: Gries, Thomas
  id: '186'
  last_name: Gries
- first_name: Yuanhua
  full_name: Feng, Yuanhua
  last_name: Feng
citation:
  ama: Fritz M, Gries T, Feng Y. Secular stagnation? Is there statistical evidence
    of an unprecedented, systematic decline in growth? <i>Economics Letters</i>. 2019;181:47-50.
    doi:<a href="https://doi.org/10.1016/j.econlet.2019.04.021">10.1016/j.econlet.2019.04.021</a>
  apa: Fritz, M., Gries, T., &#38; Feng, Y. (2019). Secular stagnation? Is there statistical
    evidence of an unprecedented, systematic decline in growth? <i>Economics Letters</i>,
    <i>181</i>, 47–50. <a href="https://doi.org/10.1016/j.econlet.2019.04.021">https://doi.org/10.1016/j.econlet.2019.04.021</a>
  bibtex: '@article{Fritz_Gries_Feng_2019, title={Secular stagnation? Is there statistical
    evidence of an unprecedented, systematic decline in growth?}, volume={181}, DOI={<a
    href="https://doi.org/10.1016/j.econlet.2019.04.021">10.1016/j.econlet.2019.04.021</a>},
    journal={Economics Letters}, author={Fritz, Marlon and Gries, Thomas and Feng,
    Yuanhua}, year={2019}, pages={47–50} }'
  chicago: 'Fritz, Marlon, Thomas Gries, and Yuanhua Feng. “Secular Stagnation? Is
    There Statistical Evidence of an Unprecedented, Systematic Decline in Growth?”
    <i>Economics Letters</i> 181 (2019): 47–50. <a href="https://doi.org/10.1016/j.econlet.2019.04.021">https://doi.org/10.1016/j.econlet.2019.04.021</a>.'
  ieee: M. Fritz, T. Gries, and Y. Feng, “Secular stagnation? Is there statistical
    evidence of an unprecedented, systematic decline in growth?,” <i>Economics Letters</i>,
    vol. 181, pp. 47–50, 2019.
  mla: Fritz, Marlon, et al. “Secular Stagnation? Is There Statistical Evidence of
    an Unprecedented, Systematic Decline in Growth?” <i>Economics Letters</i>, vol.
    181, 2019, pp. 47–50, doi:<a href="https://doi.org/10.1016/j.econlet.2019.04.021">10.1016/j.econlet.2019.04.021</a>.
  short: M. Fritz, T. Gries, Y. Feng, Economics Letters 181 (2019) 47–50.
date_created: 2019-05-23T07:55:48Z
date_updated: 2019-05-31T08:18:38Z
department:
- _id: '19'
- _id: '200'
- _id: '475'
- _id: '202'
doi: 10.1016/j.econlet.2019.04.021
intvolume: '       181'
language:
- iso: eng
page: 47-50
publication: Economics Letters
publication_identifier:
  issn:
  - 0165-1765
publication_status: published
status: public
title: Secular stagnation? Is there statistical evidence of an unprecedented, systematic
  decline in growth?
type: journal_article
user_id: '186'
volume: 181
year: '2019'
...
---
_id: '13121'
article_number: '108653'
author:
- first_name: Bastian
  full_name: Breitmayer, Bastian
  last_name: Breitmayer
- first_name: Tim
  full_name: Hasso, Tim
  last_name: Hasso
- first_name: Matthias
  full_name: Pelster, Matthias
  id: '67265'
  last_name: Pelster
  orcid: ' https://orcid.org/0000-0001-5740-2420'
citation:
  ama: Breitmayer B, Hasso T, Pelster M. Culture and the disposition effect. <i>Economics
    Letters</i>. 2019;184. doi:<a href="https://doi.org/10.1016/j.econlet.2019.108653">10.1016/j.econlet.2019.108653</a>
  apa: Breitmayer, B., Hasso, T., &#38; Pelster, M. (2019). Culture and the disposition
    effect. <i>Economics Letters</i>, <i>184</i>. <a href="https://doi.org/10.1016/j.econlet.2019.108653">https://doi.org/10.1016/j.econlet.2019.108653</a>
  bibtex: '@article{Breitmayer_Hasso_Pelster_2019, title={Culture and the disposition
    effect}, volume={184}, DOI={<a href="https://doi.org/10.1016/j.econlet.2019.108653">10.1016/j.econlet.2019.108653</a>},
    number={108653}, journal={Economics Letters}, author={Breitmayer, Bastian and
    Hasso, Tim and Pelster, Matthias}, year={2019} }'
  chicago: Breitmayer, Bastian, Tim Hasso, and Matthias Pelster. “Culture and the
    Disposition Effect.” <i>Economics Letters</i> 184 (2019). <a href="https://doi.org/10.1016/j.econlet.2019.108653">https://doi.org/10.1016/j.econlet.2019.108653</a>.
  ieee: B. Breitmayer, T. Hasso, and M. Pelster, “Culture and the disposition effect,”
    <i>Economics Letters</i>, vol. 184, 2019.
  mla: Breitmayer, Bastian, et al. “Culture and the Disposition Effect.” <i>Economics
    Letters</i>, vol. 184, 108653, 2019, doi:<a href="https://doi.org/10.1016/j.econlet.2019.108653">10.1016/j.econlet.2019.108653</a>.
  short: B. Breitmayer, T. Hasso, M. Pelster, Economics Letters 184 (2019).
date_created: 2019-08-31T08:36:59Z
date_updated: 2022-01-06T06:51:28Z
department:
- _id: '186'
- _id: '578'
doi: 10.1016/j.econlet.2019.108653
intvolume: '       184'
language:
- iso: eng
publication: Economics Letters
publication_identifier:
  issn:
  - 0165-1765
publication_status: published
quality_controlled: '1'
status: public
title: Culture and the disposition effect
type: journal_article
user_id: '67265'
volume: 184
year: '2019'
...
---
_id: '10279'
abstract:
- lang: eng
  text: 'Are cryptocurrency traders driven by a desire to invest in a new asset class
    to diversify their portfolio or are they merely seeking to increase their levels
    of risk? To answer this question, we use individual-level brokerage data and study
    their behavior in stock trading around the time they engage in their first cryptocurrency
    trade. We find that when engaging in cryptocurrency trading investors simultaneously
    increase their risk-seeking behavior in stock trading as they increase their trading
    intensity and use of leverage. The increase in risk-seeking in stocks is particularly
    pronounced when volatility in cryptocurrency returns is low, suggesting that their
    overall behavior is driven by excitement-seeking. '
article_type: original
author:
- first_name: Matthias
  full_name: Pelster, Matthias
  id: '67265'
  last_name: Pelster
  orcid: ' https://orcid.org/0000-0001-5740-2420'
- first_name: Bastian
  full_name: Breitmayer, Bastian
  last_name: Breitmayer
- first_name: Tim
  full_name: Hasso, Tim
  last_name: Hasso
citation:
  ama: Pelster M, Breitmayer B, Hasso T. Are cryptocurrency traders pioneers or just
    risk-seekers? evidence from brokerage accounts. <i>Economics Letters</i>. 2019;182:98-100.
    doi:<a href="https://doi.org/10.1016/j.econlet.2019.06.013">10.1016/j.econlet.2019.06.013</a>
  apa: Pelster, M., Breitmayer, B., &#38; Hasso, T. (2019). Are cryptocurrency traders
    pioneers or just risk-seekers? evidence from brokerage accounts. <i>Economics
    Letters</i>, <i>182</i>, 98–100. <a href="https://doi.org/10.1016/j.econlet.2019.06.013">https://doi.org/10.1016/j.econlet.2019.06.013</a>
  bibtex: '@article{Pelster_Breitmayer_Hasso_2019, title={Are cryptocurrency traders
    pioneers or just risk-seekers? evidence from brokerage accounts}, volume={182},
    DOI={<a href="https://doi.org/10.1016/j.econlet.2019.06.013">10.1016/j.econlet.2019.06.013</a>},
    journal={Economics Letters}, author={Pelster, Matthias and Breitmayer, Bastian
    and Hasso, Tim}, year={2019}, pages={98–100} }'
  chicago: 'Pelster, Matthias, Bastian Breitmayer, and Tim Hasso. “Are Cryptocurrency
    Traders Pioneers or Just Risk-Seekers? Evidence from Brokerage Accounts.” <i>Economics
    Letters</i> 182 (2019): 98–100. <a href="https://doi.org/10.1016/j.econlet.2019.06.013">https://doi.org/10.1016/j.econlet.2019.06.013</a>.'
  ieee: M. Pelster, B. Breitmayer, and T. Hasso, “Are cryptocurrency traders pioneers
    or just risk-seekers? evidence from brokerage accounts,” <i>Economics Letters</i>,
    vol. 182, pp. 98–100, 2019.
  mla: Pelster, Matthias, et al. “Are Cryptocurrency Traders Pioneers or Just Risk-Seekers?
    Evidence from Brokerage Accounts.” <i>Economics Letters</i>, vol. 182, 2019, pp.
    98–100, doi:<a href="https://doi.org/10.1016/j.econlet.2019.06.013">10.1016/j.econlet.2019.06.013</a>.
  short: M. Pelster, B. Breitmayer, T. Hasso, Economics Letters 182 (2019) 98–100.
date_created: 2019-06-19T19:00:44Z
date_updated: 2022-01-06T06:50:33Z
department:
- _id: '186'
- _id: '578'
doi: 10.1016/j.econlet.2019.06.013
intvolume: '       182'
jel:
- D1
- G1
keyword:
- cryptocurrencies
- bitcoin
- investor
- risk-seeking
language:
- iso: eng
page: 98-100
publication: Economics Letters
publication_identifier:
  issn:
  - 0165-1765
publication_status: published
status: public
title: Are cryptocurrency traders pioneers or just risk-seekers? evidence from brokerage
  accounts
type: journal_article
user_id: '21810'
volume: 182
year: '2019'
...
---
_id: '2543'
author:
- first_name: Sonja
  full_name: Brangewitz, Sonja
  last_name: Brangewitz
- first_name: Jan-Philip
  full_name: Gamp, Jan-Philip
  last_name: Gamp
citation:
  ama: Brangewitz S, Gamp J-P. Asymmetric Nash bargaining solutions and competitive
    payoffs. <i>Economics Letters</i>. 2013;121(2):224-227. doi:<a href="https://doi.org/10.1016/j.econlet.2013.08.013">10.1016/j.econlet.2013.08.013</a>
  apa: Brangewitz, S., &#38; Gamp, J.-P. (2013). Asymmetric Nash bargaining solutions
    and competitive payoffs. <i>Economics Letters</i>, <i>121</i>(2), 224–227. <a
    href="https://doi.org/10.1016/j.econlet.2013.08.013">https://doi.org/10.1016/j.econlet.2013.08.013</a>
  bibtex: '@article{Brangewitz_Gamp_2013, title={Asymmetric Nash bargaining solutions
    and competitive payoffs}, volume={121}, DOI={<a href="https://doi.org/10.1016/j.econlet.2013.08.013">10.1016/j.econlet.2013.08.013</a>},
    number={2}, journal={Economics Letters}, publisher={Elsevier}, author={Brangewitz,
    Sonja and Gamp, Jan-Philip}, year={2013}, pages={224–227} }'
  chicago: 'Brangewitz, Sonja, and Jan-Philip Gamp. “Asymmetric Nash Bargaining Solutions
    and Competitive Payoffs.” <i>Economics Letters</i> 121, no. 2 (2013): 224–27.
    <a href="https://doi.org/10.1016/j.econlet.2013.08.013">https://doi.org/10.1016/j.econlet.2013.08.013</a>.'
  ieee: S. Brangewitz and J.-P. Gamp, “Asymmetric Nash bargaining solutions and competitive
    payoffs,” <i>Economics Letters</i>, vol. 121, no. 2, pp. 224–227, 2013.
  mla: Brangewitz, Sonja, and Jan-Philip Gamp. “Asymmetric Nash Bargaining Solutions
    and Competitive Payoffs.” <i>Economics Letters</i>, vol. 121, no. 2, Elsevier,
    2013, pp. 224–27, doi:<a href="https://doi.org/10.1016/j.econlet.2013.08.013">10.1016/j.econlet.2013.08.013</a>.
  short: S. Brangewitz, J.-P. Gamp, Economics Letters 121 (2013) 224–227.
date_created: 2018-04-26T11:29:16Z
date_updated: 2022-01-06T06:57:04Z
ddc:
- '040'
department:
- _id: '205'
- _id: '475'
doi: 10.1016/j.econlet.2013.08.013
file:
- access_level: closed
  content_type: application/pdf
  creator: cjhaake
  date_created: 2018-08-09T09:49:34Z
  date_updated: 2018-08-09T09:49:34Z
  file_id: '3869'
  file_name: Asymmetric Nash bargaining solutions and competitive payoffs.pdf
  file_size: 374977
  relation: main_file
  success: 1
file_date_updated: 2018-08-09T09:49:34Z
has_accepted_license: '1'
intvolume: '       121'
issue: '2'
language:
- iso: eng
page: 224-227
project:
- _id: '1'
  name: SFB 901
- _id: '2'
  name: SFB 901 - Project Area A
- _id: '7'
  name: SFB 901 - Subproject A3
publication: Economics Letters
publication_identifier:
  issn:
  - 0165-1765
publication_status: published
publisher: Elsevier
status: public
title: Asymmetric Nash bargaining solutions and competitive payoffs
type: journal_article
user_id: '65453'
volume: 121
year: '2013'
...
---
_id: '14965'
author:
- first_name: Rainer
  full_name: Niemann, Rainer
  last_name: Niemann
- first_name: Caren
  full_name: Sureth-Sloane, Caren
  id: '530'
  last_name: Sureth-Sloane
  orcid: ' 0000-0002-8183-5901'
citation:
  ama: Niemann R, Sureth-Sloane C. Tax neutrality under irreversibility and risk aversion.
    <i>Economics Letters</i>. 2004;84(1):43-47. doi:<a href="https://doi.org/10.1016/j.econlet.2003.12.010">10.1016/j.econlet.2003.12.010</a>
  apa: Niemann, R., &#38; Sureth-Sloane, C. (2004). Tax neutrality under irreversibility
    and risk aversion. <i>Economics Letters</i>, <i>84</i>(1), 43–47. <a href="https://doi.org/10.1016/j.econlet.2003.12.010">https://doi.org/10.1016/j.econlet.2003.12.010</a>
  bibtex: '@article{Niemann_Sureth-Sloane_2004, title={Tax neutrality under irreversibility
    and risk aversion}, volume={84}, DOI={<a href="https://doi.org/10.1016/j.econlet.2003.12.010">10.1016/j.econlet.2003.12.010</a>},
    number={1}, journal={Economics Letters}, author={Niemann, Rainer and Sureth-Sloane,
    Caren}, year={2004}, pages={43–47} }'
  chicago: 'Niemann, Rainer, and Caren Sureth-Sloane. “Tax Neutrality under Irreversibility
    and Risk Aversion.” <i>Economics Letters</i> 84, no. 1 (2004): 43–47. <a href="https://doi.org/10.1016/j.econlet.2003.12.010">https://doi.org/10.1016/j.econlet.2003.12.010</a>.'
  ieee: 'R. Niemann and C. Sureth-Sloane, “Tax neutrality under irreversibility and
    risk aversion,” <i>Economics Letters</i>, vol. 84, no. 1, pp. 43–47, 2004, doi:
    <a href="https://doi.org/10.1016/j.econlet.2003.12.010">10.1016/j.econlet.2003.12.010</a>.'
  mla: Niemann, Rainer, and Caren Sureth-Sloane. “Tax Neutrality under Irreversibility
    and Risk Aversion.” <i>Economics Letters</i>, vol. 84, no. 1, 2004, pp. 43–47,
    doi:<a href="https://doi.org/10.1016/j.econlet.2003.12.010">10.1016/j.econlet.2003.12.010</a>.
  short: R. Niemann, C. Sureth-Sloane, Economics Letters 84 (2004) 43–47.
date_created: 2019-11-13T14:20:42Z
date_updated: 2023-01-31T12:33:35Z
department:
- _id: '187'
- _id: '635'
doi: 10.1016/j.econlet.2003.12.010
intvolume: '        84'
issue: '1'
language:
- iso: eng
page: 43-47
publication: Economics Letters
publication_identifier:
  issn:
  - 0165-1765
publication_status: published
quality_controlled: '1'
status: public
title: Tax neutrality under irreversibility and risk aversion
type: journal_article
user_id: '21222'
volume: 84
year: '2004'
...