Biased echoes: Large language models reinforce investment biases and increase portfolio risks of private investors

• Philipp Winder ,

  Roles Conceptualization, Formal analysis, Investigation, Methodology, Project administration, Visualization, Writing – original draft

  * E-mail: philipp.winder@unisg.ch

  Affiliation Institute of Behavioral Science & Technology, University of St. Gallen, St. Gallen, Switzerland

  https://orcid.org/0009-0007-2317-3077

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• Christian Hildebrand,

  Roles Conceptualization, Data curation, Formal analysis, Investigation, Supervision, Validation, Writing – original draft

  Affiliation Institute of Behavioral Science & Technology, University of St. Gallen, St. Gallen, Switzerland

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• Jochen Hartmann

  Roles Conceptualization, Supervision, Validation, Writing – original draft

  Affiliation TUM School of Management, Technical University of Munich, Munich, Bavaria, Germany

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