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ISSN: 2450-7733     eISSN: 2300-4096    OAI    DOI: 10.18276/sip.2016.45/2-17
CC BY-SA   Open Access   CEEOL

Issue archive / nr 45/2 2016
LEVEL OF KNOWLEDGE AND ANSWERS GIVEN IN A SURVEY RESEARCH. EXAMPLE OF INSURANCE PREFERENCES SURVEY

Authors: Maria Forlicz
Wrocław University of Economics

Tomasz Rólczyński
Wrocław School of Banking
Keywords: behavioral finance survey experiment desired value probability loss risk insurance premium
Whole issue publication date:2016
Page range:13 (211-223)
Klasyfikacja JEL: D11 D81
Cited-by (Crossref) ?:

Abstract

Survey (meant as a questionnaire), next to experiment, is one of the most commonly applied in behavioral finance methods of acquiring information about people’s behavior. However, there is some disagreement between scientists what is the real informative value of results obtained from surveys. Some claim they are worthless (e.g. Neill, Cummings, Ganderton, Harrison, McGukin, 1994), others maintain that there are no significant differences between attitudes declared in questionnaires and real field behavior (e.g. Dohmen Falk, Huffman, Sunde, Schupp, Wagner, 2011). In this paper we present results of research on the relationship between students’ level of knowledge (measured by average of grades obtained during studies) and their answers given in a survey which concerned attitude towards risk. A hypothesis that subjects answering questions about insurance preferences having higher level of knowledge give answers closer to results that could be obtained from a mathematical calculation was verified.
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