Open Access

Tech-Enabled Financial Data Access, Retail Investors, and Gambling-Like Behavior in the Stock Market

Taha Havakhor
Taha Havakhor
[email protected]
https://orcid.org/0000-0002-4338-5970
McGill University, Montreal, Quebec H3A 0G4, Canada
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Mohammad Saifur Rahman
Corresponding Author
Mohammad Saifur Rahman
[email protected]
https://orcid.org/0000-0003-2115-5776
Purdue University, West Lafayette, Indiana 47907
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Tianjian Zhang
Tianjian Zhang
[email protected]
https://orcid.org/0000-0003-1035-2838
California State University, Dominguez Hills, Carson, California 90747
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Chenqi Zhu
Chenqi Zhu
[email protected]
https://orcid.org/0000-0003-1028-2374
University of California, Irvine, Irvine, California 92697
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Taha Havakhor

[email protected]

https://orcid.org/0000-0002-4338-5970

McGill University, Montreal, Quebec H3A 0G4, Canada

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,

Mohammad Saifur Rahman

Corresponding Author

Mohammad Saifur Rahman

[email protected]

https://orcid.org/0000-0003-2115-5776

Purdue University, West Lafayette, Indiana 47907

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,

Tianjian Zhang

[email protected]

https://orcid.org/0000-0003-1035-2838

California State University, Dominguez Hills, Carson, California 90747

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,

Chenqi Zhu

[email protected]

https://orcid.org/0000-0003-1028-2374

University of California, Irvine, Irvine, California 92697

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Published Online:16 May 2024https://doi.org/10.1287/mnsc.2021.01379

cover image Management Science

Volume 71, Issue 2

February 2025

Pages iv-vi, 955

Article Information

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Received:April 26, 2021
Accepted:May 21, 2023
Published Online:May 16, 2024

Copyright © 2024 The Author(s)

Cite as

Taha Havakhor; , Mohammad Saifur Rahman; , Tianjian Zhang; , Chenqi Zhu (2024) Tech-Enabled Financial Data Access, Retail Investors, and Gambling-Like Behavior in the Stock Market. Management Science 71(2):1646-1670.

https://doi.org/10.1287/mnsc.2021.01379

Keywords

Acknowledgments

The authors thank Gregory Eaton, Huseyin Gulen, Keongtae Kim, Soyoon Kong, Alvin Leung, Ben Liu, and Min-Seok Pang as well as seminar and conference participants at the City University of Hong Kong, Santa Clara University, California State University Long Beach, 2021 National Bureau of Economic Research (NBER) Summer Institute (IT and Digitization), 2020 Statistical Challenges in Electronic Commerce Research, 2019 Conference on Information Systems and Technology, 2019 Conference on Digital Experimentation, and 2019 Workshop on Information Systems and Economics. All errors are ours.