Finance is in the midst of a paradigm shift, from a neoclassical based framework to a psychologically based framework. Behavioral finance is the application of psychology to financial decision making and financial markets. Behavioralizing finance is the process of replacing neoclassical...

Existing studies on individual investors' decision-making often rely on observable socio-demographic variables to proxy for underlying psychological processes that drive investment choices. Doing so implicitly ignores the latent heterogeneity amongst investors in terms of their preferences and...

For 5,500 individual online investors we match survey records with recent trading data to investigate what they want, in terms of their stated objectives for investing, what they do, in terms of the broad investing strategies they employ, and how their portfolios perform in terms of risk,...