-by-minute trading observations from over 864,000 price realizations in a natural field experiment, we find data patterns consonant with …

deviations of portfolio concentrations in domestic relative to foreign risky assets, or "home bias", from what standard finance … models predict. Our model ascribes the "bias" to endogenous information acquisition bolstered by investors' human capital. We …

)). We investigate whether this "competence effect" influences trading frequency and home bias. We find that investors who …

In this paper, we find that home bias is still present in all economies and regions, especially in the case of short …-term debt securities, but that there are substantial variations among economies and regions in the strength of home bias, with … the Eurozone economies, the US, and developing Asia showing relatively weak home bias and advanced Asia, especially Japan …

need for a nonlinear utility-of-wealth function, and instead results from a sort of perceptual bias -- but one that … numerical cognition, and test its ability to explain the choice frequencies that we observe in a laboratory experiment …