This paper examines the private unobserved migration propensity of married individuals using bounds to circumvent the issue of partial observability. Applied to the population of Danish couples aged between 25 to 39, this approach leads to two main results. First, we find convincing evidence...

We document sizable and robust excess return comovement between migration-flow receiving and sending states at both the individual stock and state-portfolio levels. Migration comovement is not fully explained by economic fundamentals and strengthens with the size of the migration network....

We evaluate the ability of different asset pricing models to explain the flows into VIX ETPs with long volatility exposure. We find no evidence supporting that investors consider systematic risk when they evaluate VIX ETP performance. Instead, investors appear to follow a simple mean reversion...