Psychology and economics (the mixture of which is known as behavioral economics) are two fundamental disciplines underlying marketing. Various marketing studies document the non-rational behavior of consumers, even though behavioral biases might not always be consistently termed or formally...

This paper proposes that millennials' investing behavior is driven by generational biases-investment-related biases that millennials share. The results of an online survey of 516 millennial investors revealed that generational biases-fear of missing out, socially responsible investing,...

High sentiment predicts low market returns and high arbitrage returns. This empirical evidence has important implications for portfolio optimization. Exploiting the eigenvalue-decomposition of the mean-variance portfolio, I show that its performance is the sum of two components: a market...