Want to invest wisely? Check your prior beliefs at the door
When investors cling to existing beliefs, they underestimate good financial advice and miss out on opportunities, new research finds.
Faculty
Antoinette Schoar is the Stewart C. Myers-Horn Family Professor of Finance, MIT Sloan School of Management.
She holds a PhD is in Economics from the University of Chicago and an undergraduate degree from Germany.
Her research interests span from entrepreneurial finance to household finance, fintech, cryptocurrencies and financial intermediation. She received several awards including the Kauffman Prize Medal for Distinguished Research in Entrepreneurship and the Brattle Prize for best paper in the Journal of Finance. She is the co-chair of the NBER Corporate Finance group and the Executive Editor of the Journal of Finance. She also is the cofounder of ideas42 a non-profit organization that uses insights from behavioral economics and psychology to solve social problems.
Reuter, Jonathan and Antoinette Schoar. Annual Review of Financial Economics. Forthcoming. NBER Working Paper No.32452.
Schoar, Antoinette and Yang Sun, MIT Sloan Working Paper 7155-24. Cambridge, MA: MIT Sloan School of Management, October 2024.
Kogan, Shimon, Igor Makarov, Marina Niessner, and Antoinette Schoar. Journal of Financial Economics Vol. 159, (2024): 103897. SSRN.
Cole, Shawn, Mukta Joshi, and Antoinette Schoar. The World Bank Economic Review Vol. 38, No. 3 (2024): 580-597. SSRN.
Kim, Olivia S., Jonathan A. Parker, and Antoinette Schoar, Working Paper. February 2024. Video Summary. NBER Working Paper 28151.
Schoar, Antoinette, Kelvin Yeung, and Luo Zuo. Management Science Vol. 70, No. 2 (2024): 815-833. Accepted Manuscript.
When investors cling to existing beliefs, they underestimate good financial advice and miss out on opportunities, new research finds.
Two new MIT Sloan research papers explore how retail traders deal in crypto and why Terra Luna crashed in 2022.
Individuals with low financial literacy tend to follow advice without assessing its quality, leaving them vulnerable to unsuitable advice.
Antoinette Schoar says that similar policies implemented in developing countries have resulted in "a collapse of formal credit markets."
"The collapse of Terra in May 2022 marked the first major run in crypto and contributed to the collapse of several other key players."
MIT Sloan research focused on the portfolio changes made by a large group of investors in the wake of the November 2016 election.
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