The anterior insula has been implicated in both the experience and the anticipation of negative outcomes. Although individual differences in insular sensitivity have been associated with self-report measures of chronic anxiety, previous research has not examined whether individual differences in...

We examine how learning and memory influence portfolio decisions. We confirm the puzzling finding that learning is limited. To investigate why, we follow the psychology literature on memory, which indicates that individuals recall their first (primacy) and last (recency) decisions. Reliance on...