The DOI matches its Crossref record; 1 of the 1 references it cites were found in a registry or an index.
Trading on Advice
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Integrity signals
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Cites
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Verification
Claims the paper makes
Claims other papers make about this one
Each is checked against this paper’s own text: does it say what the citing paper says it does?
Hackethal et al. (2011) find that advised retail clients are less likely to implement advice given when their financial sophistication is higher.
“Hackethal et al. (2011), who study the trading behavior of advised retail clients using data from German brokerage accounts, find that they are less likely to implement the advice given to them when their financial sophistication is higher.”
From Financial literacy, financial advice, and financial behavior (2017) · cites this paper as Hackethal et al. (2011)
Citations
Cites
Status quo bias in decision making
Samuelson, W., & Zeckhauser, R. (1988) · Journal of Risk and Uncertainty · doi:10.1007/bf00055564 · Cited by 5,897
Flagged first, then by citations
Research works printed but not linked: 17
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- Brad M Barber, 2008, All that Glitters: The Effect of Attention and News on the Buying Behavior of Individual and Institutional Investors, Review of Financial Studies, 21, 785, 10.1093/rfs/hhm079 · DOI · Paper page
- Daniel Bergstresser, 2007, Assessing the Costs and Benefits of Brokers in the Mutual Fund Industry, Review of Financial Studies, 22, 4129, 10.1093/rfs/hhp022 · DOI · Paper page
- Utpal Bhattacharya, 2012, Is Unbiased Financial Advice to Retail Investors Sufficient? Answers from a Large Field Study, Review of Financial Studies, 25, 975, 10.1093/rfs/hhr127 · DOI · Paper page
- Bundesverband Deutscher Banken, 2009, Kraftakt Krisenbew�ltigung
- Laurent E Calvet, 2009, Measuring the Sophistication of Households, American Economic Review, 99, 393, 10.1257/aer.99.2.393 · DOI
- John Y Campbell, 2002, Strategic Asset Allocation: Portfolio Choice for Longterm Investors, 10.1093/0198296940.001.0001 · DOI
- Nick Chater, 2010, Consumer Decision-Making in Retail Investment Services, European Commission (SANCO)
- Vincent P Crawford, 1982, Strategic Information Transmission, Econometrica, 50, 1431, 10.2307/1913390 · DOI · Paper page
- Rachel Croson, 2009, Gender Differences in Preferences, Journal of Economic Literature, 47, 448, 10.1257/jel.47.2.448 · DOI · Paper page
- Dabank, 2004, Faszination Wertpapier: Fakten und Hintergr�nde zum Anlegerverhalten in Deutschland, mimeo
- 2009, DAI-Factbook 2009 -Statistiken, Deutsches Aktieninstitut
- Daniel Dorn, 2005, Talk and Action: What Individual Investors Say and What They Do, Review of Finance, 9, 437, 10.1007/s10679-005-4997-z · DOI
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- Dimitris Georgarakos, 2010, Financial Advice and Stock Market Participation, mimeo, 10.2139/ssrn.1641302 · DOI
Cited by
Sorted by citations
Financial literacy, financial advice, and financial behavior
Stolper, O. A., & Walter, A. (2017) · Journal of Business Economics · doi:10.1007/s11573-017-0853-9 · Cited by 471
“Likewise, both Chalmers and Reuter (2012) and Hackethal et al. (2012) use subsets of these demographics to proxy for financial literacy in their analyses.”
Background
Metadata
- Authors
- Hackethal, A., Inderst, R., & Meyer, S.
- Affiliations
- Goethe University Frankfurt (DE)
- Aarhus University (DK)
- Corresponding author
- Inderst, Roman
- Venue
- SSRN Electronic Journal
- Publisher
- Elsevier BV
- Published
- 2011
- ISSN
- 1556-5068 (ISSN-L)
- OpenAlex
- W1839193085
- Cited by
- 79
- References
- 1
- Citations by year
- 2026: 1 · 2025: 2 · 2024: 25 · 2023: 1 · 2022: 2 · 2021: 5 · 2020: 2 · 2019: 2 · 2018: 4 · 2017: 7 · 2016: 4 · 2015: 4 · 2014: 4 · 2013: 2 · 2012: 10
- Type
- posted content
- Language
- en
- Open access
- green
- doi.org
- Locations
- SSRN Electronic Journal (publishedVersion)
- Topics
- Social Sciences › Economics, Econometrics and Finance › Finance › Financial Markets and Investment Strategies
- Social Sciences › Economics, Econometrics and Finance › Finance › Financial Literacy, Pension, Retirement Analysis
- Social Sciences › Decision Sciences › General Decision Sciences › Decision-Making and Behavioral Economics
- Keywords
- retail investors, trading volume, financial advice, sales targets, investor education, behavioral finance
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