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Inequality: an introduction
I grew up in India, and it was a mess. I saw poverty and inequality right there in front of me. For my graduate studies, I went to the United States, to Northwestern. So I learned Gérard Debreu's theory of value and Kenneth ...
Ambiguity Aversion and Household Portfolio Choice Puzzles: Empirical Evidence
We test the relation between ambiguity aversion and five household portfolio choice puzzles: nonparticipation in equities, low allocations to equity, home-bias, own-company stock ownership, and portfolio under-diversification. ...
Slowing down in the good old days : the effect of nostalgia on consumer patience
Nostalgia, which is induced by reminiscing about a positive past experience, can counteract loneliness and promote prosocial behavior. However, the process of recalling and thinking about a nostalgic experience can have ...
Superstition and financial decision making
In Chinese culture, certain digits are lucky and others unlucky. We test how such numerological superstition affects financial decision in the China initial public offering (IPO) market. We find that the frequency of lucky ...