This paper investigates investor attention using novel panel data on daily online logins for a large sample of retirement accounts. We find support for selective attention to portfolio information. Account logins fall by 9.5% after market declines. Investors also pay less attention when the VIX...

This paper investigates investor attention using novel panel data on daily online logins for a large sample of retirement accounts. We find support for selective attention to portfolio information. Account logins fall by 9.5% after market declines. Investors also pay less attention when the VIX...

In this paper we draw attention to an important motive – the desire for meaning – that drive considerable human behavior and economic activity, but has been largely ignored by economists. We distinguish four interpretations of meaning that differ in the degree to which they are amenable to...

Standard economic models assume that the weight given to information from different sources depends exclusively on its diagnosticity. In this paper we study whether the same piece of information is weighted more heavily simply because it arose from direct experience rather than from observation....