Financial signals' abrupt spectral changes in temporal scale correspond to the perception bias on risk which is a well-known epistemologically decision-making factor in behavioral finance research. In this paper, we explored the epistemological role of S&P 500 signal's non-stationarity on...

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 subsequent decisions. Across settings, people accept risk as part of a “loss-exit” strategy—planning to continue...