Necessary Evidence for a Risk Factor's Relevance

Quantifying investor narratives and their role during COVID‐19

“…The survey was presented to respondents daily using Amazon's MTurk. MTurk is a large crowd-sourcing platform that allows researchers to obtain survey data by paying workers to complete human intelligence tasks and has recently been used as a survey data collection mechanism in several economic studies, for example, Goetzmann et al (2017), Binder and Rodrigue (2018), Chinco et al (2020), andBinder (2022). The MTurk service allows one to restrict survey respondents by premium qualifications.…”

“…We used Amazon's Mechanical Turk (MTurk) to distribute our survey. This platform is previously used by Goetzmann et al (2017), Chinco et al (2020), andBinder (2020), but its use is relatively new to the economics literature. 3 The advantage of this survey approach over previous studies that aim at understanding economic narratives based on, for example, news or SoMe data (e.g., Bybee et al, 2021;Thorsrud, 2019a, andShiller, 2020, ), is that it offers direct access to the raw subjective beliefs and causal narratives of those individuals whose decisions drive economic activity.…”

Are Stated Expectations Actual Beliefs? New Evidence for the Beliefs Channel of Investment Demand

“…This approach builds on a nascent survey literature in household finance which elicits both investors' decisions and asks them to self-examine the factors behind their investment choices(Chinco et al (2020);Choi and Robertson (2020);Liu et al (2020)). 8 See Appendix B for detailed question framing.…”