There's quite a bit of research (example, ) teasing out the fact that home/casual/individual investors prefer stocks with large positive skewness. It surprised me, as I was reading a bunch of these papers, that no point is made about whether casual investors like to hold stocks with high visibility characteristics (e.g. well known in news, large size, "safe", "blue chip" stocks). My expectation is that there is a bias towards large stocks ... Just going off people in my family, but I would like to see a study of this.
Question: Are you aware of any empirical study that addresses this question?
 Household Portfolio Diversification: A case for rank-dependent preferences, by Polkovnichenko (2005)