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We model a financial market in which investor beliefs are shaped by representativeness. Investors overreact to a series of good… Expand This paper investigates the behavior of asset prices in an endowment economy in which a representative agent with power utility… Expand Using a large proprietary database of institutional trades for the period 1999-2005, this paper examines the interim (i.e., intra… Expand This paper establishes a causal relation between an individual's decision of whether to own stocks and average stock market… Expand We examine how mutual funds from 26 developed and developing countries allocate their investment between domestic and foreign… Expand Research in behavioral corporate finance takes two distinct approaches. The first emphasizes that investors are less than fully… Expand We examine the impact of geographical proximity on the acquisition decisions of US public firms over the period 1990-2003… Expand This study investigates individual investors' bias towards nearby companies. Using data from a large U.S. discount brokerage, we… Expand This paper documents that investors are more likely to hold, buy, and sell the stocks of Finnish firms that are located close to… Expand I argue that hazard models are more appropriate than single-period models for forecasting bankruptcy. Single-period models are… Expand