pathological intoxication

We show that the availability of options to retail investors displaces lottery stocks. We also find that investors are willing to… Expand

type="main"> Using four different proxies for a firm's investor base we demonstrate that idiosyncratic risk premiums are larger… Expand

This paper studies the relation between firm value and a firm's growth options. We find strong empirical evidence that (average… Expand

 

This paper proposes an intertemporal asset pricing model that resolves the puzzling negative relations between expected stock… Expand

Abstract Ang, Hodrick, Xing, and Zhang (2006a) show that stocks with high idiosyncratic return volatility tend to have low future… Expand

We examined the role of interleukin (IL)-18 and cytokine-induced neutrophil chemokines (CINC)-1 and CINC-3 in the neutrophil… Expand

We find that returns to momentum investing are higher among high idiosyncratic volatility (IVol) stocks, especially high IVol… Expand

This paper shows that a New Year's gambling preference of individual investors impacts prices and returns of assets with lottery… Expand

Views expressed do not necessarily reflect official positions of the Federal Reserve System. Modern economic theory of foreign… Expand