W ORKI NG P APER NO . 110 Awareness and Stock Market Participation Luigi Guiso and Tullio Jappelli November 2003 This version June 2004 University of Naples Federico I I University of Salerno Bocconi University, Milan CSEF - Centre for Studies in Economics and Finance – UNI VERSI TY OF SALERNO 84084 FISCIANO (SA) - ITALY Tel. +39 089 96 3167/ 3168 - Fax +39 089 96 3167 – e-mail: csef@unisa.it