Essays on natural experiments in behavioral finance and trade [Elektronische Ressource] / vorgelegt von Wolf Nicolas Sauter

Essays on Natural Experimentsin Behavioral Finance and TradeInaugural-Dissertationzur Erlangung des GradesDoctor oeconomiae publicae (Dr. oec. publ.)an der Ludwig-Maximilians-Universit˜at Munc˜ hen2009vorgelegt vonWolf Nicolas SauterReferent: Prof. Dr. Joachim WinterKoreferent: Prof. Dr. Thiess Buttner˜Promotionsabschlussberatung: 10. Februar 2010To my parentsAcknowledgmentsThe development and completion of this thesis would not have been possible with-out the help and the encouragement of numerous people. First of all, I would like tothank my supervisor Prof. Joachim Winter, whose teachings, uninterrupted support,and guidance made this dissertation possible. I also thank Prof. Thiess Buttner˜ whokindlyacceptedtobemyco-supervisorandProf. FlorianEnglmaierforbeingmythirdexaminer.I thank all participants at the Empirical Research Workshop and my colleaguesat the Seminar fur˜ Empirische Wirtschaftsforschung at LMU Munich, who providedsubstantial feedback and many helpful ideas during the research process. I am par-ticularly indebted to Florian Heiss for extensive feedback on the flrst chapter of thisdissertation, for his teachings and for making his Stata code publicly available. Also, Iam grateful to Jan Walliser, who provided important inputs on the elaboration of thesecond chapter.