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Financial Innovation

Table 2 Cross-section regression

From: Gazing through the bubble: an experimental investigation into financial risk-taking using eye-tracking

Variable

First trading session

Second trading session

Holdings

Decision-making

Holdings

Decision-making

Intercept

0.7694

(0.4689)

0.3091

(0.1913)

− 2.3763*

(− 1.8321)

− 5.9169

(− 1.2355)

Arousal

0.0210

(0.0355)

− 0.0797

(− 0.1363)

1.1139**

(2.6256)

2.2115

(1.3175)

Attention (lack of)

− 0.0992*

(− 1.9483)

0.0853*

(1.8925)

− 0.1516**

(− 2.1872)

0.2298

(1.1377)

Dis-engagement

− 0.0525

(− 0.7832)

− 0.1183***

(− 2.9154)

0.0031**

(0.0532)

− 0.4544**

(− 2.7179)

Adj. R-squared

21.32%

31.98%

28.86%

53.02%

Prob. F-stat

0.029

0.005

0.009

0.058

Durbin-Watson

1.35

1.35

1.80

1.41

No. obs

29

29

29

29

  1. The table reports \(\beta\) estimates of exogenous variables (first column) for the log-returns as the dependent variable for both trading sessions – the holdings and decision-making sub-periods (columns 1–4). t-Statistics are below in parentheses. Statistical significance at the 1%, 5% and 10% confidence levels is indicated using ***, ** and *. Note: attention needs to be interpreted in reverse, as it is measured as the average distance from the center of the screen.
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