This chapter reviews literature from the last 43 years on consumer or household investment to provide directions for future research. We carried out a comprehensive and transparent keyword search of the Scopus database and shortlisted 76 empirical articles based on the year of publication and the number of citations. Our search captures articles on four aspects of investor behavior – risky asset participation, asset allocation, portfolio selection, and rebalancing. We identify the most important years, journals, authors, and articles. We also document the major data sources, sampling, and statistical techniques used in these articles. We find socioeconomic status, wealth, human capital, health, gender, behavioral biases, non-standard risk preferences, personality traits, cognitive abilities, social preferences, and information acquisition to be the prominent influencers of individual and household investment behavior. Future research should focus on emerging markets, social finance, survey and experimental techniques, the role of information, technology, health, insurance and borrowing, familiarity, alternate assets, and special populations.

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