• Exposure to the COVID-19 Stock Market Crash and its Effect on Household Expectations 

      Hanspal, Tobin; Weber, Annika; Wohlfart, Johannes (2020-05-21)
      We survey a representative sample of US households to study how exposure to the COVID-19 stock market crash affects expectations and planned behavior. Wealth shocks are associated with upward adjustments of expectations ...
    • The Trading Response of Individual Investors to Local Bankruptcies 

      Laudenbach, Christine; Loos, Benjamin; Pirschel, Jenny; Wohlfart, Johannes (2020-03-20)
      We use data from a German online brokerage and a survey to show that retail investors sharply reduce risk-taking in response to nearby firm bankruptcies, which are not predictive of returns. The effects on trading are ...