Using US household panel data, we provide evidence of a strong negative association between consumer fraud victimization and individuals’ perception of their financial well-being. We show that this effect is homogenous among the population and mainly stems from victimization through...

We analyze the effect of geographic proximity on individual investors’ portfolio choice. Using a unique data set which covers the common stockholdings of private households at regional banks in Germany, we document strong and consistent overinvestment in geographically close companies. Our...

Extant literature consistently documents that investors tilt their domestic equity portfolios towards regionally close stocks (local bias). We hypothesize that individual investors’ local bias is not limited to the domestic sphere but instead also determines their international investment...