Participation and Losses in Multi-Level Marketing: Evidence from an FTC Settlement - with Claes Bäckman. Financial Planning Review (2022). [SSRN]

Political Corruption, Trust, and Household Stock Market Participation  - with Di Bu and Yin Liao. Journal of Banking and Finance (2022). [SSRN]

Consuming Dividends - with Konstantin Bräuer and Andreas Hackethal. Review of Financial Studies (2022).  [SSRN] 

The Characteristics and Portfolio Behavior of Bitcoin Investors: Evidence from Indirect Cryptocurrency Investments - with Dominique M. Lammer, Andreas Hackethal, and Kevin Rink. Review of Finance (2021). [SSRN]

Cultivating Self-Control in FinTech: Evidence from a Field Experiment on Online Consumer Borrowing  - with Di Bu, Yin Liao, and Yong Liu. Journal of Financial and Quantitative Analysis (2021). [SSRN]

Exposure to the COVID-19 Stock Market Crash and its Effect on Household Expectations - with Annika Weber and Johannes Wohlfart. Review of Economics and Statistics (2021).   
[Online appendix and survey instructions] [SSRN]

Once Bitten, Twice Shy: The Power of Personal Experiences in Risk Taking - with Steffen Andersen and Kasper Meisner NielsenJournal of Financial Economics (2019). [SSRN]

Working Papers:

Local Returns and Beliefs about the Stock Market - with Clemens Wagner
Selected presentations:  EFA 2023

Do Gamblers Invest in Lottery Stocks? - with Emily Kormanyos and Andreas Hackethal

Educating Investors about Dividends - with Andreas Hackethal, Samuel M. Hartzmark, and Konstantin Bräuer.

Personal Recommendations and Portfolio Quality - with Olga Balakina, Claes Bäckman, Andreas Hackethal, and Dominique M. Lammer.
Selected presentations:  SGF 2022, CEPR Advanced Forum in Financial Economics, JEF Seminar

Beliefs and the Disposition Effect - with Steffen Andersen, Jimmy Martinez-Correa, and Kasper Meisner Nielsen. Revise and Resubmit, Review of Finance.

Risk Taking, Preferences, and Beliefs: Evidence from Wuhan - with Di Bu, Yin Liao, and Yong Liu
[Presentation video] [CEPR Covid Economics Issue 5]
Selected presentations: FMA 2021, SFS Cavalcade 2021,  Virtual Finance and Economics Conference, Finance in the Cloud III, Aarhus, SABE

Do Financial Misconduct Experiences Spur White-Collar Crime?  - with Steffen Andersen and Kasper Meisner Nielsen
Selected presentations:  EFA 2020, Helsinki Finance 2019

The Effect of Personal Financing Disruptions on Entrepreneurship
Selected presentations: AFA 2018, SGF 2017, CEPR Entrepreneurship 2016, EEA 2016

Archived Papers:

Does Financial Technology Affect Household Savings Behavior? - with Gregor Becker. Revise and Resubmit Journal of Banking and Finance