Cameron Peng

We survey a large representative sample of retail investors in China to elicit their memories of stock market investment and return expectations. We...

We build a model of the law of small numbers (LSN)—the incorrect belief that even small samples represent the properties of the underlying population...

Evidence from experiments, surveys, and the field has uncovered both underreaction and overreaction to new information. We provide new experimental...

Review of Finance, 28 (2), 511–550

When members of the same household have different risk preferences, whose preference matters more for investment decisions and why? We propose an...

The existing literature has documented “reaching for yield” - the phenomenon of investing more in risky assets when interest rates drop - among...