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 …

We build a model of mutual fund competition in which a fraction of investors,
unsophisticated, exhibit a preference for familiarity, while sophisticated investors are free of …

Following the global financial crisis, a portfolio concentrated in US large cap equity and
aggregate fixed income has provided higher returns than diversified portfolios through 2019 …

The GSE Reform Debate: How Much Capital Is Enough? Page 1 The GSE Reform Debate:
How Much Capital Is Enough? Sizing to the 2007 Experience and Commenting on Overlooked …

This chapter deals with a variety of biases, including the gambler's fallacy, hindsight bias,
panic, herd behaviour, status quo bias, survivorship bias, money illusion, attachment bias …

Over the past 25 years, as financial markets have become increasingly integrated, the role of
foreign equities in a well-diversified portfolio has become increasingly uncertain. We present …

Inadequate access to electricity remains one of the pressing challenges in Sub-Saharan
Africa. Ensuring universal access by 2030 will require additional sources of finance as …

We study a sample of US global equity mutual funds that invest in markets around the world.
While the existing literature shows significant home bias among investors, we find that US …

We examine the proposition that investor attention affects the optimality of financial
decisions. Using a novel dataset on the sociodemographic characteristics of visitors to …