Resolving the Excessive Trading Puzzle: An Integrated Approach Based on Surveys and Transactions
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NBER Working Paper No. 26911
---- Acknowledgments ----
We thank Jingxuan Chen and Zi Ye for able research assistance. We are grateful to Lawrence Jin, and seminar participants at Baruch, Chapman, CUHK Shenzhen, Imperial College, LSE, and Princeton for helpful feedback. Cameron Peng acknowledges financial support from the Paul Woolley Centre at LSE. Wei A. Xiong acknowledges support from the National Natural Science Foundation of China (Project Number 71703104). The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.