’O Sole Mio: An Experimental Analysis of Weather and Risk Attitudes in Financial Decisions
通过实验发现，晴天和好天气会促进人们承担更多风险，这种影响既来自客观天气也来自主观感受，且可能通过情绪起作用，对理解金融市场波动有参考价值。
Although weather has been shown to affect financial markets and financial decision making, a still open question is the channel through which such influence is exerted. By employing a multiple price list method, this paper provides direct experimental evidence that sunshine and good weather promote risk-taking behavior. This effect is present whether relying on objective measures of meteorological conditions or subjective weather assessments. Finally, employing a psychological test, we find evidence that weather may affect individual risk tolerance through its effect on mood. The Author 2013. Published by Oxford University Press on behalf of The Society for Financial Studies. All rights reserved. For Permissions, please e-mail: journals.permissions@oup.com., Oxford University Press.