Animal models, human neuroimaging and lesion studies revealed that the gut microbiota
can influence the interaction between the central and the enteric nervous systems via the gut …

Overconfident behavior, the excessive willingness to bet on one's performance, may be
driven by optimistic beliefs and/or ambiguity attitudes. Separating these factors is key for …

Trillions of dollars flow into socially responsible investments (SRIs), yet it is unclear how
investors trade off sustainability with financial performance. To formally evaluate this, we …

Systematic biases in return expectations can distort stock prices and lead to inefficient
capital allocation. In this paper, we report experimental evidence that buying a stock induces …

Personal experiences can impact investors' risk taking, and this can explain market
phenomena such as time-varying risk premia, asset price bubbles or wage–price spirals …

Experiences are an important source for learning in repeated decision-making contexts, but
weighing them too much may lead to suboptimal choices. Using a controlled lab experiment …

Recent evidence suggests that stock market experiences, ie realized returns, impact
subjective expected returns. I bring a model into the laboratory and find that experience …

The growing market for retail structured investment products and empirical evidence for
excessive pricing of such products raise the hypothesis that private investors show …

Trillions of dollars flow into socially responsible investments (SRIs), yet it is unclear how
investors trade off sustainability with financial performance. To formally evaluate this, we …

We study a persuasion problem in which a sender designs an information structure to
induce a non-Bayesian receiver to take a particular action. The receiver, who is privately …