LISS panel > Estimation of a behavioral model within an agent-based model of a financial market
Publisher
CentERdata
Creator
Rasa Stasiukynaite, Hendri Adriaens & Bertrand Melenberg
Created
Aug 01 2019
Description
This study aims to estimate and validate heterogeneous agent-based models in finance. These models implement behavioral theories computationally, emphasizing limited optimization abilities of economic agents and describing their behavior in financial markets by pointing to simple “rules of thumb”. The questions include individual risk attitudes, portfolio composition, beliefs about stock markets, and information exchange. The answers are used to estimate and measure the parameters that are crucial to the behavior of agents and the market as a whole.
URL to resource
Panel
lissdata
Begin date
Jul 02 2012
| Name | English | Dutch |
|---|---|---|
| {intro} | This questionnaire is about investments and about predicting prices in the future. Some questions contain fairly long descriptions. Please … | Deze vragenlijst gaat over beleggingen en het voorspellen van prijzen in de toekomst. Sommige vragen bevatten vrij lange beschrijvingen. Wi… |
| gt017 | Do you currently own financial products such as shares, bonds, or equity funds? Please disregard shares in your own private company, growth… | Bent u momenteel in het bezit van financiële producten zoals aandelen, obligaties, of aandelenfondsen? Aandelen in uw eigen BV, groeifondse… |
| gt018 | Have you owned any financial products such as shares, bonds or equity funds, in the past six months? Please disregard shares in your own pr… | Bent u in de afgelopen zes maanden in het bezit geweest van financiële producten zoals aandelen, obligaties, of aandelenfondsen? Aandelen i… |
| gt019 | Suppose you were to get one thousand euros, and you want to invest that money. You have two options: either to transfer the money into a sa… | Stelt u zich voor dat u duizend euro krijgt en dat geld wilt investeren. U hebt daarbij twee opties. U kunt het geld op een spaarrekening z… |
| gt020 | We now want to ask your advice with regard to the following situation. Mr. Jones intends to book a holiday for his next vacation. He is loo… | We willen nu vragen naar uw advies met betrekking tot de volgende situatie. Meneer Janssen is van plan om een reis te boeken voor zijn volg… |
| gt021 | Suppose you intend to book a holiday for your next vacation. You are looking for a good deal: a top-class accommodation somewhere abroad fo… | Stel u bent van plan om een reis te boeken voor uw volgende vakantie. U bent op zoek naar een goede deal: een topaccomodatie in het buitenl… |
| gt022 | Did the information in the previous question about how other people plan their holiday influence your choice? | Heeft de informatie over andere mensen die een vakantie plannen in de vorige vraag uw keuze beïnvloed? |
| gt023 | When you make decisions about your investments, what events in the stock market and economy do you take into account? Events in the stock m… | Als u beslissingen neemt over uw beleggingen, met welke gebeurtenissen in de aandelenmarkt en economie houdt u dan rekening? Gebeurtenissen… |
| gt024 | Now you will see a number of statements. Please indicate each time to what extent you agree or disagree with the statement. Price developme… | Nu volgt een aantal stellingen. Wilt u bij elke stelling aangeven in hoeverre u het ermee eens of oneens bent? Prijsontwikkelingen in de aa… |
| gt025 | I read the prognoses about the stock market and base my investment decisions on that information. | Ik lees de prognoses over de aandelenmarkt aandachtig en baseer mijn beleggingsbeslissingen daarop. |
| gt026 | Shares are sometimes priced wrongly by the market, that is to say that market prices may be higher or lower than the actual value of the sh… | Aandelen zijn soms verkeerd geprijsd door de markt, dat wil zeggen de marktprijzen liggen hoger of lager dan de echte waarde van de aandele… |
| gt027 | When I invest in an investment portfolio (for example shares, bonds or equity funds), the advice of my colleagues, friends, family or other… | Als ik investeer in een beleggingsportefeuille (bijvoorbeeld aandelen, obligaties of aandelenfondsen) vormt het advies van collega's, vrien… |
| gt028 | We now wish to ask your advice with respect to the following situation. Mr. Jones owns an investment portfolio. He intends to modify the po… | We willen nu vragen naar uw advies met betrekking tot de volgende situatie. Meneer Janssen heeft een beleggingsportefeuille. Hij is van pla… |
| gt029 | Suppose that you intend to modify your portfolio’s composition with a view to future prognoses and the anticipated yield. Suppose that you … | Stel u bent van plan om de samenstelling van uw portefeuille te veranderen aan de hand van de toekomstvoorspellingen en het verwachte rende… |
| gt030 | Did the information in the previous question about other investors influence your choice? | Heeft de informatie over andere beleggers in de vorige vraag uw keuze beïnvloed? |
| gt031 | Suppose now that Mr. Jones wants to predict the anticipated annual yield of a share. Again, he has just two ways of doing so. Please choose… | Stelt u zich vervolgens voor dat meneer Janssen het verwachte jaarlijkse rendement van een aandeel wil voorspellen. Ook hierbij zijn slecht… |
| gt032 | Suppose now that you wish to predict the anticipated annual yield of a share. Again, you have just two methods of doing so. Please choose t… | Stelt u zich vervolgens voor dat u het verwachte jaarlijkse rendement van een aandeel wilt voorspellen. Ook hierbij zijn slechts twee metho… |
| gt033 | Did the information in the previous question about other investors influence your choice? | Heeft de informatie over andere beleggers in de vorige vraag uw keuze beïnvloed? |
| {intro10} | The following questions are about your investments such as shares, bonds, or equity funds. Please disregard shares in your own private comp… | De volgende vragen gaan over uw beleggingen zoals aandelen, obligaties, of aandelenfondsen. Rekent u aandelen in uw eigen BV, groeifondsen … |
| gt034 | Please think back to the last time you revised your investment portfolio. What changes did you make at that time? | Denkt u aan de laatste keer dat u uw beleggingsportefeuille hebt herzien. Welke aanpassing hebt u toen gedaan? |
| gt035 | By how much did you [if gt034=1: lower; if gt034=2: increase] the value of your portfolio? You don’t need to provide an exact figure, an es… | Hoeveel hebt u de waarde van de portefeuille [if gt034=1: verlaagd; if gt034=2: verhoogd]? U hoeft geen exact bedrag in te vullen, een insc… |
| gt036 | Could you indicate, then, to what category this amount belongs? | Kunt u dan aangeven in welke categorie dit bedrag valt? |
| gt037 | What was (approximately) the total value of your investment portfolio before you last revised it? | Wat was (bij benadering) de totale waarde van uw beleggingsportefeuille voordat u die het laatst had herzien? |
| gt038 | Could you indicate, then, to what category the total amount of your portfolio belongs? | Kunt u dan aangeven in welke categorie de totale waarde van uw beleggingsportefeuille valt? |
| gt039 | What was the reason you changed the value of your investment portfolio? | Wat was de reden dat u de waarde van uw belegginsportefeuille hebt veranderd? |
| gt040 | (open answer to ‘other reason, namely’:) | (open antwoord op ‘anders, namelijk’:) |
| gt041 | By how much had you anticipated that the value of your investment portfolio would [if gt039=1: increase; if gt039=2: decrease] (before you … | Hoeveel had u verwacht dat de waarde van uw beleggingsportefeuille zou [if gt039=1: stijgen; if gt039=2: dalen] (voordat u de waarde van uw… |
| gt042 | Could you indicate, then, to what category the [if gt039=1: increase; if gt039=2: decrease] that you had anticipated belongs? | Kunt u dan aangeven in welke categorie de door u destijds verwachte [if gt039=1: stijging; if gt039=2: daling] van de waarde valt? |
| gt043 – gt047 | Note: Please complete the questionnaire fully until you are returned to the initial screen. Only then will the system register the question… | NB: Maakt u alstublieft de vragenlijst af totdat u weer bij het beginscherm komt. Pas dan registreert het systeem de vragenlijst als volled… |
| Variable | Dataset | English | Dutch |
|---|---|---|---|
| nomem_encr | gt12a | Number of household member encrypted | |
| gt12a_m | gt12a | Year and month of the field work period | |
| gt12a001 | gt12a | Random number 1..2; determines which experimental version of the questionnaire is presented to the respondent: Mr. Jones or personalized | |
| gt12a002 | gt12a | Random number 1..2; determines the order of fills in question gt12a020 en gt12a021 | |
| gt12a003 | gt12a | Random number 1..2; determines the order of fills in question gt12a028 en gt12a029 | |
| gt12a004 | gt12a | Random number 1..2; determines the order of fills in question gt12a031 en gt12a032 | |
| gt12a005 | gt12a | Preloaded variable, cost example at question gt12a020 and gt21a021 | |
| gt12a006 | gt12a | Preloaded variable, cost example at question gt12a020 and gt12a021 | |
| gt12a007 | gt12a | Preloaded variable, percentage example at question gt12a020 and gt12a021 | |
| gt12a008 | gt12a | Preloaded variable, percentage example at question gt12a020 and gt12a021 | |
| gt12a009 | gt12a | Preloaded variable, cost example at question gt12a028 and gt12a029 | |
| gt12a010 | gt12a | Preloaded variable, cost example at question gt12a028 and gt12a029 | |
| gt12a011 | gt12a | Preloaded variable, percentage example at question gt12a028 and gt12a029 | |
| gt12a012 | gt12a | Preloaded variable, percentage example at question gt12a028 and gt12a029 | |
| gt12a013 | gt12a | Preloaded variable, cost example at question gt12a31 and gt12a32 | |
| gt12a014 | gt12a | Preloaded variable, cost example at question gt12a31 and gt12a32 | |
| gt12a015 | gt12a | Preloaded variable, percentage example at question gt12a31 and gt12a32 | |
| gt12a016 | gt12a | Preloaded variable, percentage example at question gt12a31 and gt12a32 | |
| gt12a017 | gt12a | Do you currently own financial products such as shares, bonds or equity funds? | |
| gt12a018 | gt12a | Have you owned any financial products such as shares, bonds or equity funds, in the past six months? | |
| gt12a019 | gt12a | How high should the interest on the savings account be, for you to opt for the saving account rather than the investment portfolio? | |
| gt12a020 | gt12a | Mr. Jones intends to book a holiday for his next vacation... Which method would you most probably advise Mr. Jones to use? | |
| gt12a021 | gt12a | Suppose you intend to book a holiday for your next vacation... Which method would you probably choose? | |
| gt12a022 | gt12a | Did the information in the previous question about how other people plan their holiday influence your choice? | |
| gt12a023 | gt12a | When you make decisions about your investments, what events in the stock market and economy do you take into account? | |
| gt12a024 | gt12a | Now you will see a number of statements. Please indicate each time to what extent you agree or disagree with the statement. Price developments in the stock market are completely unpredictabe. | |
| gt12a025 | gt12a | I read the prognoses about the stock market and base my investment decisions on that information. | |
| gt12a026 | gt12a | Shares are sometimes priced wrongly by the market, that is to say that market prices may be higher or lower than the actual value of the shares. | |
| gt12a027 | gt12a | When I invest in an investment portfolio ... the advice of ... others that invest in an important source of information... | |
| gt12a028 | gt12a | Mr Jones ownes an investment portfolio... Which method would you most probably advise Mr. Jones to apply? | |
| gt12a029 | gt12a | Suppose that you intend to modify your portfolio's composition with a view to future prognoses and the anticipated yield... Which method would you most probably apply? | |
| gt12a030 | gt12a | Did the information in the previous question about other investors influence your choice? | |
| gt12a031 | gt12a | Suppose now that Mr. Jones wants to predict the anticipated annual yield of a share... Which method would you most probably recommend to Mr. Jones? | |
| gt12a032 | gt12a | Suppose now that you wish to predict the anticipated annual yield of a share... Which method would you most probably use? | |
| gt12a033 | gt12a | Did the information in the previous question about other investors influence your choice? | |
| gt12a034 | gt12a | Please think back to the last time you revised your investment portfolio. What changes did you make at that time? | |
| gt12a035 | gt12a | By how much did you [lower/increase] the value of your portfolio? | |
| gt12a036 | gt12a | Could you indicate, then, to what category the amount belongs? | |
| gt12a037 | gt12a | What was (approximately) the total value of your investment portfolio before you last revised it? | |
| gt12a038 | gt12a | Could you indicate, then, to what category the total amount of your portfolio belongs? | |
| gt12a039 | gt12a | What was the reason you changed the value of your investment portfolio? | |
| gt12a040 | gt12a | What was the reason you changed the value of your investment portfolio?: other reason, namely.. | |
| gt12a041 | gt12a | By how much had you anticipated that the value of your investment portfolio would [increase/decrease] (before you revised the value of your investment portfolio)? | |
| gt12a042 | gt12a | Could you indicate, then, to what category the [increase/decrease] that you had anticipated belongs? | |
| gt12a043 | gt12a | Was it difficult to answer the questions? | |
| gt12a044 | gt12a | Were the questions sufficiently clear? | |
| gt12a045 | gt12a | Did the questionnaire get you thinking about things? | |
| gt12a046 | gt12a | Was it an interesting subject? | |
| gt12a047 | gt12a | Did you enjoy answering the questions? | |
| gt12a048 | gt12a | Starting date questionnaire | |
| gt12a049 | gt12a | Starting time questionnaire | |
| gt12a050 | gt12a | End date questionnaire | |
| gt12a051 | gt12a | End time questionnaire | |
| gt12a052 | gt12a | Duration in seconds |