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Dark Omens in the Sky: Do Superstitious Beliefs Affect Investment Decisions?
2009
Social Science Research Network
Psychological research documents that individuals are more likely to resort to superstitious practices when operating in environments dominated by uncertainty, high stakes, and perceived lack of control over the outcomes. Based on these findings, we suggest that the stock market represents an ideal breeding ground for superstition and then test whether superstition-induced behavior affects investment decisions. Our empirical analysis focuses on some beliefs associated with eclipses, phenomena
doi:10.2139/ssrn.1428792
fatcat:rxf56ybaczaztcdqyr6fh2y5w4