This paper analyzes the tendency of people to choose default options when offered courses to acquire job related skills. We ask a random sample of Dutch people aged 6-80 which three skills are most important in their (future or past) jobs. Further on in the survey, we randomly select one of the...

We contribute to the debate on whether institutional investors have an information advantage in a novel way – by investigating institutional options holdings. We find that net institutional option holdings predict both future abnormal stock returns and earnings surprises, particularly for...