Using data on all employees at listed companies in Taiwan, we find that the bias toward employer stocks is generic to individual investor decision-making, but not limited to retirement plans. 71 percent of sample employees invest in employer stocks and the employer stocks make up on average 47...

Rational models claim “trading to learn” explains widespread excessive speculative trading and challenge behavioral explanations of excessive trading. We argue rational learning models do not explain speculative trading by studying day traders in Taiwan. Consistent with previous studies of...

This paper studies credit card repayment behavior in terms of exact repayment dates and provides causal explanation from inattention for the first time. Using data from a large commercial bank in Asia, we find that 70% of repayments are made before the due date, 9% on time, and 21% overdue. We...