Do happier people care more, or less, about other people's problems? Indirectly to this
question we investigate whether markets in happier countries are less affected by tragic …

Numerous studies in recent decades have linked investor mood and financial market
behavior, but most works have been empirical investigations. This paper bridges the gap …

Existing literature exclusively focuses on the association between local investor sentiment
and local stock market performance. In this paper, we investigate the contemporaneous and …

Empirical studies have documented the influence of investor sentiment on financial markets,
but the underlying economic mechanism remains unclear. This study links psychological …

This essay reviews the family of models that seek to provide aggregate risk based
explanations for the empirically observed equity premium. Theories based on non-expected …

In this paper, we examine the relationship between global stock markets, as respectively
represented by the FTSE All-World Series and the MSCI Emerging Markets indexes, and the …

This paper examines how gender, religion, and ethnic differences influence the key
determinants of individual investment behavior, which are risk taking, skill, luck, happiness …

This paper studies equilibrium in a pure exchange economy with unobservable Markov
switching growth regimes and beliefs-dependent risk aversion (BDRA). Risk aversion is …

This paper explores the relationship between global wealth and happiness. We employ a
bivariate generalized autoregressive conditional heteroskedasticity framework for global …

This paper introduces state dependent utility into the standard Mehra and Prescott [J. Monet.
Econ. 15 (1985) 145] economy by allowing the representative agent's coefficient of relative …