TY  - RPRT
        AU  - Paola, Maria De
AU  - Gioia, Francesca
AU  - Piluso, Fabio
        TI  - Does Reminding of Behavioural Biases Increase Returns from Financial Trading? A Field Experiment
        PY  - 2017/Sep/
        PB  - Institute of Labor Economics (IZA)
        CY  - Bonn
        T2  - IZA Discussion Paper
        IS  - 10983
        UR  - https://www.iza.org/publications/dp10983
        AB  - We ran a field experiment to investigate whether nudge policies, consisting in behavioural insight messaging, help to improve performance in financial trading. Our experiment involved students enrolled in a financial trading course in an Italian University who were invited to trade on Borsa Italiana's virtual platform. Students were randomly assigned to a control group and a treatment group. 
Treated students received a message reminding them of the existence of behavioural biases in financial trading. We find that treated students significantly improve the performance of their portfolio. Several behaviours may explain the increase in performance. We find evidence pointing to a reduction in the home and status quo biases for risk averse nudged participants.
        KW  - nudges
KW  - reminders
KW  - behavioural biases
KW  - financial trading
KW  - home bias
KW  - status quo bias
KW  - risk aversion
        ER  -