Research

Refereed Publications

Is Unbiased Financial Advice to Retail Investors Sufficient? Answers from a Large Field Study, with U. Bhattacharya, A. Hackethal, S. Kaeslar, and S. Meyer, Review of Financial Studies, 2012, 25, 975-1032. (Was the lead article, working paper)

Abusing ETFs, with U. Bhattacharya, S. Meyer, and A. Hackethal, Review of Finance, 2017, 21, 1217-50. (Was a feature story in USA today, the WSJ and the FAZ, working paper)

Selected Working Papers

The Trading Response of Individual Investors to Local Bankruptcies, with C. Laudenbach and J. Pirschel, being revised for resubmission to the Journal of Financial Economics, (ERIC 2017, RBFC Amsterdam 2016, SGF 2017).

Robo-advisers and investor behavior, with A. Previtero, S. Scheurle, and A. Hackethal (Accepted for presentation at FIRS 2018) (email me for draft)

Trust and Delegated Investing: A Money Doctors Experiment, with M. Germann, and M. Weber (Accepted for presentation at AFA 2019 and Boulder Summer Conference on Consumer Financial Decision Making 2018) (email me for draft)

Fee-only Advice, with S. Meyer and A. Hackethal (DGF 2015, AEA 2016, FIRS 2016, CEPR Network Event on Household Finance 2016). (email me for draft)