The effect of saliency of graphical information on investment decisions – An eye-tracking experiment

In contrast to the traditional framework of rational economic agents, the growing subfield of behavioural finance has shown that individual investors can be systematically biased, which leads to a range of inefficient finance decisions, such as under-participation in equity markets, under-diversified portfolios, or decisions influenced by funds’ marketing efforts and other irrelevant factors. In order to protect investors from such biases, there are two approaches proposed by academia so far: increasing investors’ financial literacy and enhancing financial information disclosure. This study adopts the second approach.