Dear Colleagues, I am happy to share with you the following invitation to the Quantative Finance webinar organized by LTI@UniTO and Collegio Carlo Alberto, “Investor Behavior under Prospect Theory: Evidence from Mutual Funds” by Lorenzo Schoenleber (CCA), which will take place on Zoom on June 14th, at 12.45. Below you find the Zoom link and an abstract of the presentation. Best regards, Luca Regis <#> <https://4z5y5.r.a.d.sendibm1.com/mk/cl/f/CkeqzI9VH3wAjL0mIewldcmVdn9Kyki4A1Nc4PnT2zDKj4yR8BmeBxHYzf974JyFfg2tUcxZT3PUYWNZILzPFutD0AEY_CX9vKiHAjM0orCNin3TlPnAbQPqIet3s1kQBGe6dycOWkf5QN5l_iUKZoOVhz-XgNwBnujBtU_09PcoZcWp> <#> LTI@Unito and Fondazione Collegio Carlo Alberto are pleased to invite you to the following webinar <#> *June 14, 2021 | 12:45 - 13:45* *“Investor Behavior under Prospect Theory: Evidence from Mutual Funds”* *Lorenzo Schoenleber (Collegio Carlo Alberto)* <#> *Abstract. *This paper studies the investment behavior of investors and fund managers within the mutual funds industry. We find that investors are biased in their mutual fund purchase decisions in a way described by prospect theory: The prospect theory value predicts future mutual fund flows, despite the fact that it is not related to the mutual funds’ future performance. We show that the mutual funds’ prospect theory value contains incremental information compared to historical performance measures already discovered in the mutual fund flow literature, and subsumes the information content of variables related to the convexity in the flow-performance relationship. We find that mutual fund managers are not subject to any behavioral bias identifiable by prospect theory when selecting stocks for their mutual fund portfolio. The results are robust to various specifications. *Zoom Link:* *https://us02web.zoom.us/j/85611292343?pwd=U1dwYXZrZFQvR0RaZGwvZmplS2tFUT09 <https://4z5y5.r.a.d.sendibm1.com/mk/cl/f/79Qh76oDew-iI1lTKKd-JiGNLs42TkHRfm4qJXGc9J21snwLESjtwNxLZDiP0tppui1cqLT4QZNfkDD2T_GSI-ojF4YMiXwIDyJ0CmymxA_12c84xNacBWrzKuiKQTvd8VZB1xS3t6LW42Xq-9_V5fkg00Ti69K2XEqquEvw3Zm_7gsRcZtivgLuD0dXgJbuZ_WPvxW_1XF6FkBK5gWrFvvGol0EJ13faX0i9Zo3cSSuCqzfCUGY>* Meeting ID: 856 1129 2343 Passcode: 401236 <#> <#> <#> <https://4z5y5.r.a.d.sendibm1.com/mk/cl/f/YmtAmHu7JhL3tEkSBLOh9PvpHnMR_PZzOeBg5X-adPw6P5JVbreVHS92DWWn-0XXxcNgVnMCiBuHVfLSADDF9I3Q6-LojXzZaLNSEn19GwX9bom3ZZfT-lZ0KH8XDMuJC3VixUvjpJfEQWfwRgY_lIXWV6tbuCebaaTzg_kPx1br_krfEwmbg7JQ> <https://4z5y5.r.a.d.sendibm1.com/mk/cl/f/AWpDX3iRxSwhx4MX6D5K64D_f2W6jUS_f2_aM9IrVpOy_mIV3yoj80W2UgRjS3M7WvoroML2llZlHIGoufuGE5HLvbSdOuruS1J4Uqp9iKTGa1j1Vdq1FaW1JOVtBffEbR_oklftE497Osx-mZyLVLrqRT1v723RXdQZLg> <#> FONDAZIONE COLLEGIO CARLO ALBERTO Piazza Arbarello 8 - 10122 Torino, Italy phone: +390116705000 segreteria@carloalberto.org - www.carloalberto.org Facebook <https://4z5y5.r.a.d.sendibm1.com/mk/cl/f/4RHP7RFelHmPbN3l7D0GqNF1iSMpQHHnP44VLvAby5dkoJhopz--In2DZ0ItbpPDwFmNNr2Ml0rBrfzKxDMdrOvOwCveavvlKlmuMSspO1qD4qABOcjGPuvxI9ZjTjdpryAPsCe8kcBCDm1zHWgaXbdgWuwgWdaisaxwdYfiXsHf36c3fzcggVpjH5pOly_YwSfa-g> Twitter <https://4z5y5.r.a.d.sendibm1.com/mk/cl/f/EPbbUwncGLMOBC2qw2aNITsMvBTfaFVZcLqYl9WJD60klCp_hNCt4IGpNLcxX6GQt5z3h375fCjLyRH7CeMne43r6Xb7I_QW9V4T_Dy55WWqPMTkHc_C27e8SFsDvz8wfIKv7Yj7IfaBqjlsYxucNqUbqq0gfvY0DLdaY3JFsPjNXY-UTw> LinkedIn <https://4z5y5.r.a.d.sendibm1.com/mk/cl/f/DcHnPK_RQAOSwsn5P0Ykl5hEaDyjahuL3n1zIZLNbZDfO91vuPlvL5LCq7nRtkGMVpzW83O8LtoWr1M3xgWsjKkMtCBGokMneAHYDp_4Pt-NZik8eC4Cg1fGC3xAnGfGhyX-jQZ64UWJ7wn4tr6R1fGLiV9LpZb-2m4xSqe9MoAbtYdYqgLx6AydbA_PYco4AdjJPjZ7d3L427vQ4HEFVw2g> Instagram <https://4z5y5.r.a.d.sendibm1.com/mk/cl/f/EUM8gEcq3q4LvNepOA15xKXC8xWWbOaKbxjFopmrOtmyGwuDvcoWxGJhFmeI4Qk_ZXnLzkKhRQiawA_ZGiNO4E6EAjD3mA2ZRYDqJdXKGrr-9-wkYVXSk2Q0NpcCqI11SZgdVF_FU6L1fP0d2g1yJPheu1z54vjFQxDsR7IPMxCoDr4dQK-CmgsGhIjqmIpQOWkZbdFlVGQ> Youtube <https://4z5y5.r.a.d.sendibm1.com/mk/cl/f/9VeN44_sxivBMcSIflgJy1DuZHDI0j6YLhqhyBgzLv9KviOAZoTkx_dF-SfgROOkA3czq8iHtkjhVVxLe73Ihvy4q5Ibq-IKcSJWtF4_MFt-5NM3U_0d1Axz08SXq_v4SPxrbzlEg_iwSYHIJsOv0ZggdRdDzNdcFkdUu98pT86cnIuoRrFsBNXsMQaoemsrfaHg2GqoV4UgODph3ao2gCU> <#> *INFORMATION UNDER THE NEW GENERAL DATA PROTECTION REGULATION (GDPR)* Your personal information has been gathered for the exclusive purpose of informing you about the Collegio's initiatives, considering our and your legitimate interest or your consent. If you wish to have your personal data modified please contact Fondazione Collegio Carlo Alberto, piazza Arbarello 8, 1022 Torino, Italy - phone: +390116705000 - privacy@carloalberto.org *Unsubscribe* <https://4z5y5.r.a.d.sendibm1.com/mk/un/M20yHigHLYrRzldRVQQLRo4rkGtNRPqHqaQtIBf9yXeq48yNdZ5s-dNJXG5rqUhnmV5G9vzygD13Hsi4PPrZf50CXxjLLElQ_6py3HKG7jaE96QySilABLQ88VSHrM1cS0iA3XXEZcEUXcrwI8yH2vyGLg> <#> © 2021 Fondazione Collegio Carlo Alberto