A timely guide that bridges the gap between microeconomic theoryand practice through real-world application in the marketplace Understanding how microeconomics affects the marketplace isessential for any investment professional, however most bookssimply address microeconomics in its pure...

We test the hypothesis that retail investors' attraction to lottery stocks induces overvaluation, and is amplified by high attention and social interactions. The lottery premium (negative abnormal returns) is stronger for high-retail-ownership stocks—especially those that also have high...