In an op-ed, Prof. Adam Alter discusses how cultural beliefs shape financial decision-making
December 10, 2013
Excerpt from The New Yorker -- "Easterners are puzzled by the Western preoccupation with the number thirteen, but many people in China, Taiwan, Singapore, and other East Asian countries similarly fear the number four. One analysis, to be published late next year, found that U.S. copper, cotton, and soybeans experience lower commodities-market returns on the fourth day of each month, when superstitious Chinese brokers prefer to postpone their trading decisions. Both Samsung and Nokia avoid cell phone-model numbers containing the digit four, and Nokia’s S60 software platform released its fifth edition immediately after its third edition."