Finance for Normal People teaches behavioral finance to people like you and me-normal
people, neither rational nor irrational. We are consumers, savers, investors, and managers …

Behavioral finance presented in this book is the second-generation of behavioral finance.
The first generation, starting in the early 1980s, largely accepted standard finance's notion of …

We document a robust dynamic inconsistency in risky choice. Using a unique brokerage
dataset and a series of experiments, we compare people's initial risk-taking plans to their …

The disposition effect for a stock significantly weakens if the portfolio is at a gain, but is large
when it is at a loss. We find this portfolio‐driven disposition effect (PDDE) in four …

Does the provision of leverage to retail traders improve market quality or facilitate socially
inefficient speculation that enriches financial intermediaries? We evaluate the effects of …

The rapid dissemination of information through digital platforms has revolutionized the way
we access and consume news and information, particularly in the realm of finance …

This paper investigates how individual attention triggers influence financial risk-taking based
on a large sample of trading records from a brokerage service that sends standardized push …

We investigate the performance and learning ability of traders in an environment governed
by ambiguity, such as the cryptocurrency market. Using a profit decomposition methodology …

This paper documents a highly downward-sloping security market line (SML) in China,
which is more puzzling than the typical “flattened” SML in the US, and does not reconcile …

We show that constraints can improve financial decision-making by disciplining behavioral
biases. In financial markets, restrictions on leverage limit traders' ability to borrow to open …