We examine how interruptions and personal and contextual factors affect the manifestation of psychological momentum (PM). Using men's singles tennis point-by-point data from the two Grand Slam tournaments, Wimbledon and Roland Garros, between 2009 and 2014 (N=29,934), we employ realized break...

Wie Geld unser Denken beeinflusst. Sobald Geld ins Spiel kommt, verändert sich unsere Einstellung. Geld macht unser Leben berechenbarer, lässt uns kühl kalkulieren, planen und handeln. Allerdings nicht immer. Geld kann auch Gier entfesseln, kann uns leichtsinnig machen, egoistisch oder...

This paper provides the first evidence for empirical tests of the impact of rational expectations as well as behavioral biases, including among other animal spirits such as defined by Akerlof and Shiller on the variability of trading. Using a daily data for five international capital markets in...

How investor expectations move markets and the economyThe collapse of Lehman Brothers in September 2008 caught markets and regulators by surprise. Although the government rushed to rescue other financial institutions from a similar fate after Lehman, it could not prevent the deepest recession in...