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Recent research has separately uncovered that stock ownership strongly correlates with both expectations and realizations of stock market returns, as well as with measures of financial literacy, ability or trust. This paper reconciles all, and reports new findings from a unique survey containing...
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We show that the disposition effect-the tendency of investors to hold losers and sell winners-can be a source of overconfidence. We find experimental evidence that individuals update beliefs about their own investment ability based on realized gains and losses rather than the overall performance...
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We investigate if, and why, an initial success can trigger a string of successes. Using random variations in success in a real‐effort laboratory experiment, we cleanly identify the causal effect of an early success in a competition. We confirm that an early success indeed leads to increased...
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. It examines whether financial behavior, confidence, time preferences, risk preferences and financial literacy perceptions …. A t-test analysis showed that FB, risk preferences, confidence levels, time preferences and financial literacy …, financial literacy perception index and confidence significantly influenced the FB of categorized university students. The risk …
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