Decision making in pension boards.
A crucial assumption of collective schemes is that trustees make more rational choices and avoid behavioral biases to which individuals are subjected to. But is this really the case? In this article, we surveyed trustees by a novel method (‘vignettes’) to get insights on how they would decide. Personal risk adverseness plays an more important part in the board room than previously assumed.
Harry van Dalen, Kène Henkens, Kees Koedijk & Alfred Slager, Decision making in the pension board room: an experiment with Dutch pension fund trustees.
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