The economic theories taking into consideration human behavior and based on the achievements of psychology, sociology, anthropology have been evolving at a blistering pace over the last decade. Owing to that, the behavioral finance has become one of the fastest developing academic areas focused...

Motivated by insights from psychology, a growing body of behavioral finance research highlights the importance of investors attention constraints. Collectively, this work suggests that time-series and cross-sectional variation in attention might not only materially affect the quality of market...