We experimentally study how presentation formats for return distributions affect investors’ diversification choices. find that sampling returns alleviates correlation neglect and constitutes an effective way to improve financial decisions. When participants get a description of the probabilities outcomes joint distribution, we confirm findings others investors between assets in their However, w...

People are using the Internet for financial planning assistance. Yet those seeking advice on the Internet rarely tend to question the advice source. Little research has examined the unique aspects of online financial advice taking. Online advice offers a unique setting which does not mirror “offline advice”. This paper addresses the research questions (1) What kinds of people are more likely to...

XBRL has the ability to provide financial statements with improved data information quality (DIQ). Contextual and representational DIQ are relevant to perceptual and decision factors of nonprofessional investors when they interact with XBRL-based financial statements and make investment decisions. The author posits that XBRL-based financial statements with improved contextual and representation...