As is well-known, investors are subject to overconfidence. Using a survey of about 2,000
defined contribution pension plan members, we not only corroborate this, but also explore the …

We perform an asset market experiment in order to investigate whether overconfidence
induces trading. We investigate three manifestations of overconfidence: calibration-based …

Discover a structured, applied approach to behavioral finance with the first academic text of
its kind--Ackert/Deaves' BEHAVIORAL FINANCE: PSYCHOLOGY, DECISION MAKING, AND …

… o w l e d g e i = M a x ( A v g a b s s c a l e d f o r e e r r o r ) − A v g a b s s c a l e d f o r e e r
r o r i M a x ( A v g a b s s c a l e d f o r e e r r o r ) − M i n ( A v g a b s s c a l e d f o r e e r r o r ) …

We are merely reminding ourselves that human decisions affecting the future, whether
personal or political or economic, cannot depend on strict mathematical expectation, since the …

There is evidence that risk-taking behavior is influenced by prior monetary gains and losses.
When endowed with house money, people become more risk taking. This paper is the first …

This research presents evidence that decision support systems can play an important role in
debiasing behaviorally-challenged investors. An empirical study involving 119 participants …

The robustness of bubbles and crashes in markets for assets with finite lives is perplexing.
This paper reports the results of experimental asset markets in which participants trade two …

… Citation2012), timing of risk resolution (van Winden, Krawczyk, and Hopfensitz Citation2011),
openness to advice and a planner mentality (Bhandari and Deaves Citation2008), and …

This study constitutes the first comprehensive examination of Canadian mutual fund
performance using a dataset free of all conditioning biases. The goal is to test many of the same …