Han et. al.,2021 mentioned that
So in contrast with traditional behavioral finance models, active strategies tend to spread through the population even if investors have no inherent preference for their characteristics.
From the sentence above, from my understanding, he means that in the traditional behavioral finance model, passive strategies would be the popular trading strategy, especially when the investors have no inherent preference for their characteristics. Is my explanation correct?
Could you please give me a reference or explanation about that? Please let me know if my question is not clear that I can try to explain my question better.
People suggest me to post this question here for asking preference.
