We build an empirical model to attribute delays in mortgage refinancing to psychological
costs inhibiting refinancing until incentives are sufficiently strong; and behavior, potentially …

ABSTRACT A number of theoretical research papers in micro as well as macroeconomics
model and analyze attention but direct empirical evidence remains scarce. This paper …

We review the emerging literature on information acquisition in field settings. We first
document an increase in studies on information acquisition and review relevant studies in …

In many important real-world decision domains, such as finance, the environment, and
health, behavior is strongly influenced by experience. Renewed interest in studying this …

We analyze all stock transactions executed by the universe of individual (or retail) investors
of the Colombian Stock Exchange (5,380,810 trades performed by 42,211 individual …

We rely on memories to form beliefs, but we also frequently revisit memories in conversation
and private reflection. I show experimentally that such rehearsal of past experiences …

I show experimentally that information persuades not only by shifting beliefs but also by
redirecting attention. Participants repeatedly choose whether to “purchase” multi-attribute …

A large body of literature documents a positive relationship between the Google Search
Volume Index (SVI) and market returns or volumes. Such findings are consistent with a …

Using data from an online brokerage, we examine the role of investor logins in trading
behavior. We find that a new reference point is created when an investor logs in and views …

We propose a framework where a decision-maker allocates attention across payoff-
dimensions which can be different dimensions of consumption, realizations of an unknown …