Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/304021 
Year of Publication: 
2023
Citation: 
[Journal:] Cogent Economics & Finance [ISSN:] 2332-2039 [Volume:] 11 [Issue:] 1 [Article No.:] 2190214 [Year:] 2023 [Pages:] 1-22
Publisher: 
Taylor & Francis, Abingdon
Abstract: 
Our experiments evaluate the role of information presentation in reducing violations of the Law of One Price in individual investor selection of index mutual funds. The results indicate that most individuals fail to minimize fees. However, individuals allocate nearly 27% (43%) more of their investment dollars to the lowest fee index mutual fund when receiving fee information in the form of a table compared to a graph presentation (in ten-year rather than one-year form). Overall, a simple change from table to graph fee presentation results in a statistically and economically significant reduction in the fees paid by investors.
Subjects: 
behavioral finance
data visualization
diversification bias
Mutual funds
S&P index funds
JEL: 
C91
D03
D14
G11
G23
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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