This paper provides survey evidence on the influence of training on behavioral financeon professional fund managers’ perception and investment behavior. In particular, it examineswhether “trained” fund managers differ from the “untrained” ones in their perceptionof markets and...

This paper provides evidence on the hypothesis that many behavioral finance patterns are sodeeply rooted in human behavior that they are difficult to overcome by learning. We test thison a target group which has undoubtedly very strong incentives to learn efficient behavior,i.e. fund managers....