After the completion of our global INTRA study (International Test on Risk Attitudes) with nearly 7000 subjects in 53 countries (joint work with Prof. Thorsten Hens, we want to broaden the view to more diverse economic decisions, but focus on a particularly interesting region of the world: East Asia. We plan to conduct this study in Japan, Taiwan, China, Hong Kong, and Vietnam, but also in Germany and Estonia (for comparison).
PANDA stands for Preferences, Attitudes, Norms and Decisions in Asia. It consists of a number of surveys (online and offline) and experiments that will be conducted at various partner universities in these countries.
The project is coordinated by Prof. Marc Oliver Rieger and Prof. Mei Wang (WHU - Otto Beisheim School of Management).
Researchers helping with this survey are (among others):
Prof. Bodo Vogt, Universität Magdeburg
Prof. Chen Nai-Shing, NCCU
Prof. Gong Yujing, Zhongnan University of Economics and Law, Wuhan
Prof. Ken Iwatsubo, Kobe University
Prof. Koji Abe, Kobe University
Frau Liu Yang, Hochschule Trier
Prof. Rao Yulei, Central South University, Changsha
Prof. Seng Geng, Xiamen University
Prof. Shen Junyi, Kobe University
Prof. Takeshi Momi, Doshisha University, Kyoto
Prof. Xie Xiaofei, Peking University
Prof. Yuan Shuonan, Xi’an Polytechnic University
Prof. Zhuang Zili, Hong Kong Chinese University
and many others...
Involved PhD students, students and student assistants are:
Emering, Tobias Peter
Kersch, Luisa Regina
Phan Chung Thuy
Toan Luu Duc Huynh
Up to now (March 2019), already more than 3000 subjects participated in our PANDA surveys. The data collection will go on during the first half of 2019. Working papers and publications based on these data will be linked here. For now, we refer to our publications on the INTRA study:
Breuer, W.; Rieger, M. O.; Soypak, K. C. (2017): Corporate Cash Holdings and Ambiguity Aversion. In: Review of Finance Vol. 21 (Iss. 5), pp. 1933–1974.
Breuer, W.; Rieger, M. O.; Soypak, K. C. (2014): The behavioral foundations of corporate dividend policy a cross-country analysis" (with Wolfgang Breuer and K. Can Soypak), Journal of Banking and Finance, 42, pp. 247-265.
Rieger, M.; Bui, T. (2011): Too risk averse for prospect theory?, Modern Economy, Vol. 2, Issue 4, pp. 691-700.
Rieger, M. O.; Wang, M. (2012): Can ambiguity aversion solve the equity premium puzzle? Survey evidence from international data", Finance Research Letters, 9(2), pp. 63-72.
Rieger, M. O.; Wang, M.; Hens, T. (2017): Estimating Cumulative Prospect Theory Parameters from an International Survey. In: Theory and Decision Vol. 82 (Issue 4), pp. 567–596.
Rieger, M. O.; Wang, M.; Hens, T. (2015): Risk Preferences Around the World, Management Science, Vol. 61, Issue 3, pp. 637-648.
Rieger, M. O.; Wang, M.; Hens, T. (2013): International evidence on the equity premium puzzle and time discounting, Multinational Finance Journal, 17(3/4), pp. 149-163, 2013.
Wang, M.; Rieger, M. O.; Hens, T. (2017): The Impact of Culture on Loss Aversion. In: Journal of Behavioral Decision Making Vol. 30 (Iss. 2), pp. 270–281.
Wang, M.; Rieger, M. O.; Hens, T. (2016): How Time Preferences Differ: Evidence from 53 Countries, Journal of Economic Psychology, Vol. 52, pp. 115–135.