Negative Tail Events, Emotions and Risk Taking
通过实验发现，观察到尾部事件的投资者会降低出价，而遭受尾部损失的投资者会提高出价，但情绪未波动的投资者不会提高出价，表明情绪是损失域风险寻求的关键。
Abstract We design a novel experiment to assess investors’ behavioural and physiological reactions to negative tail events. Investors who observed, without suffering from, tail events decreased their bids, whereas investors suffering tail losses increased them. However, the increase in bids after tail losses was not observed for those who exhibited no emotional arousal. This suggests that emotions are key in explaining prospect theory prediction of risk seeking in the loss domain.