The disposition effect is the reluctance to sell assets at a loss relative to a salient point of reference, typically assumed to be the purchase price. Using data on stocks and housing sales, we show that the peak price achieved by an asset during the investor's period of holding constitutes an...

Innovation in financial technology has granted consumers increased access to faster, more convenient payment services. This development has, however, also given rise to Authorised Push Payment (APP) fraud, where consumers are unwittingly manipulated into authorising transactions to counterfeit...

We use UK household survey data incorporating measures of financial literacy and behavioural characteristics to analyse the puzzling co-existence of high cost revolving consumer credit alongside low yield liquid savings in household balance sheets, which we term the 'co-holding puzzle'....

Choosing a mortgage is one of the most important financial decisions made by a household. Financial innovation has given rise to more complex mortgage products with back-loaded payments, known as 'Alternative Mortgage Products' (AMPs), or 'nterest-Only Mortgages'. Using a specially designed...

Policymakers have expressed concern that some mortgage holders do not understand or correctly choose their mortgage products, especially alternative mortgage products (AMPs) with back-loaded payments. Using a specially design question module in a UK survey, we investigate the impact of consumer...