Good decision vs. good results: Outcome bias in the evaluation of financial agents [Dataset]
<|begin_of_text|><|start_header_id|>system<|end_header_id|> You are a research archivist expert in dataset metadata. Answer the question truthfully.  <|eot_id|><|start_header_id|>user<|end_header_id|> Here is the Description of a dataset. Description:'We document outcome bias in situations where an agent makes risky financialdecisions for a principal. In three experiments, we show that the principal’s eval-uations and financial rewards for the agent are strongly affected by the randomoutcome of the risky investment. This happens despite her exact knowledge of theinvestment strategy, which can, therefore, be assessed independently of the out-come. The principal thus judges the same decision by the agent differently,depending on factors that the agent has no influence on. The effect of outcomespersists in a setting where principals communicate a preferred investment level.Principals are more satisfied with the agent after a random success when the agentdid not follow the requested investment level, than after a failed investment thatfollowed their explicit request' . Please return only a json list of at most 3 Keywords corresponding to the Description:.<|eot_id|><|start_header_id|>assistant<|end_header_id|> {"Answer" : ["Accountability","Decisions of agents","Decision under risk","Financial advice","Outcome bias"]} <|eot_id|>
 Here is the Description of a dataset. Description:'We document outcome bias in situations where an agent makes risky financialdecisions for a principal. In three experiments, we show that the principal’s eval-uations and financial rewards for the agent are strongly affected by the randomoutcome of the risky investment. This happens despite her exact knowledge of theinvestment strategy, which can, therefore, be assessed independently of the out-come. The principal thus judges the same decision by the agent differently,depending on factors that the agent has no influence on. The effect of outcomespersists in a setting where principals communicate a preferred investment level.Principals are more satisfied with the agent after a random success when the agentdid not follow the requested investment level, than after a failed investment thatfollowed their explicit request' . Please return only a json list of at most 3 Keywords corresponding to the Description:.
We document outcome bias in situations where an agent makes risky financialdecisions for a principal. In three experiments, we show that the principal’s eval-uations and financial rewards for the agent are strongly affected by the randomoutcome of the risky investment. This happens despite her exact knowledge of theinvestment strategy, which can, therefore, be assessed independently of the out-come. The principal thus judges the same decision by the agent differently,depending on factors that the agent has no influence on. The effect of outcomespersists in a setting where principals communicate a preferred investment level.Principals are more satisfied with the agent after a random success when the agentdid not follow the requested investment level, than after a failed investment thatfollowed their explicit request
Accountability; Decisions of agents; Decision under risk; Financial advice; Outcome bias