NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
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Naïve *Buying* Diversification and Narrow Framing by Individual Investors

John Gathergood, David Hirshleifer, David Leake, Hiroaki Sakaguchi, Neil Stewart

NBER Working Paper No. 25567
Issued in February 2019, Revised in February 2020

---- Acknowledgments ----

We thank David Laibson, George Loewenstein and Brigitte Madrian for very helpful comments and suggestions, together with seminar participants at the Network for Integrated Behavioural Science Annual Workshop 2018, University of Glasgow, University of Bristol, University of Loughborough and Queen Mary University of London. This work was supported by Economic and Social Research Council grants ES/K002201/1, ES/N018192/1, ES/P008976/1, and Leverhulme grant RP2012-V-022. Sakaguchi acknowledges PhD studentship funding from the Economic and Social Research Council with award reference 1499648. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

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