In recent years, the concept of mental accounting has been widely used in the literature to
investigate its influence on decision-making processes related to savings, investment, debt …

This chapter reviews recent advances in the literature on mental accounting-the process by
which people group expenses into categories, assign funds to these categories, determine …

We study the introduction of a wealth-management robo-adviser that constructs portfolios
tailored to investors' holdings and preferences. Adopters are similar to non-adopters in terms …

We test whether the display of information causally affects investor behavior in a high‐stakes
trading environment. Using investor‐level brokerage data from China and a natural …

How do low interest rates affect investor behavior? We demonstrate that individuals “reach
for yield,” that is, have a greater appetite for risk-taking when interest rates are low. Using …

We employ a novel brokerage account data set to investigate which individual investors are
the most attentive, how investors allocate their attention, and the relation between investor …

Many individual investors, mutual funds, and institutions trade as if dividends and capital
gains are disconnected attributes, not fully appreciating that dividends result in price …

Previous empirical studies find that lottery-like stocks significantly underperform their non-
lottery-like counterparts. Using five different measures of the lottery features in the literature …

We examine how owning a good affects learning and beliefs about its quality. We show that
people have more extreme reactions to information about a good they own compared with …

We use neural data collected from an experimental asset market to measure regret
preferences while subjects trade stocks. When subjects observe a positive return for a stock …