Tallinn University of Technology

Tarvo Vaarmets' doctoral thesis "Investor Decisions and the Path to the Stock Market"  was awarded with the Grand Prize at the student research competition, organized by the Estonian Research Council.

Other awarded research papers from the Department of Economics and Finance were by Vladislav Fjodorov (supervisor Merike Kukk), and Miina Hõbenael (supervisor Simona Ferraro).

Vaarmets’ research work concentrates on the behavioral patterns of investors, giving a more closer into look how exam results, education, and other socio-economic characteristics affect investors' choice of speciality, decision to take part in the stock market, and disposition effect. 

Tõnn Talpsepp ja Tarvo Vaarmets
Tarvo Vaarmets (on the right) and his supervisor Tõnn Talpsepp