How to Alleviate Correlation Neglect in Investment Decisions

The authors thank Peter Bossaerts, Dan Egan, Paul Gortner, Zwetelina Iliewa, Michael Kosfeld, Lukas Mertes, Steffen Meyer, Robert Mislavsky, Monica Paiella, Diego Pulido, Nick Reinholtz, Marc Rieger, Oleg Urminsky, seminar participants at the University of Frankfurt, the University of Mannheim, the University of Heidelberg, and the University of Innsbruck, and conference participants at the Bogota Experimental Finance Conference 2018, the Max Planck Institute for Research on Collective Goods Experimental Finance Workshop 2018, the Behavioral and Experimental Analysis in Macro-Finance Workshop Kyoto 2017, the Boulder Summer Conference on Financial Decision Making 2017, the Experimental Finance Conference 2017, Deutsche Gesellschaft für Finanzwirtschaft Meeting 2017, and Center for Economic Policy Research European Workshop on Household Finance 2017. The authors also thank Yanghua Shi and Matias Palmunen for excellent research assistance.