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- W4386378541 abstract "Abstract We provide an overview of the literature investigating (retail) investors' demand for lottery‐like stocks. We summarize different sets of lottery proxies and discuss their implications for cross‐sectional pricing of individual stocks. We present empirical evidence and summarize the findings including (i) the robustness of the lottery demand effect using an extended data set, (ii) the economic underpinnings of the lottery demand effect, and (iii) the explanatory power of the lottery preference factor for established stock market anomalies." @default.
- W4386378541 created "2023-09-02" @default.
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- W4386378541 date "2023-09-01" @default.
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- W4386378541 title "Lottery demand, lottery factor, and anomalies" @default.
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- W4386378541 doi "https://doi.org/10.1002/rfe.1187" @default.
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