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This paper investigates the causal effect of education on life satisfaction, exploring effect heterogeneity along … longitudinal information, we also address the endogeneity of employment status. We find a positive effect of education on life … function as a unifying explanation for the asymmetric effect of education on life satisfaction. …
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We use unique data fromfinancial advisers' professional exam scores and combine it with other variables to create an index of financial sophistication. Using this index to explain long-term stock return expectations, we find that more sophisticated financial advisers tend to have lower return...
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This paper examines the relationship between overconfidence and losses from under-diversification among Dutch investors. We find that a lack of proper portfolio diversification is positively associated with overconfidence. Part of this relationship is mediated through the lower propensity of...
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