Cronqvist, Henrik; Siegel, Stephan - In: Journal of Financial Economics 113 (2014) 2, pp. 215-234
For a long list of investment “biases,” including lack of diversification, excessive trading, and the disposition … controlling for observable individual characteristics. The evidence is consistent with a view that investment biases are … genetic predispositions to investment biases. Finally, we find that even genetically identical investors, who grew up in the …