These individual priors play a bigger role when investors are unfamiliar with the stock market or lack data to assess it. But they are unlikely to fade away even with experience and data. If trust is sufficiently low, very few will participate and accumulate enough information to update a (possibly wrong) prior. Furthermore, when mistrust is deeply rooted, people may be doubtful about any information they obtain and disregard it in revising their priors. For example, data from a 2002 Gallup poll show that roughly 80 percent of respondents from some Muslim countries (Pakistan, Iran, Indonesia, Turkey, Lebanon, Morocco, Kuwait, Jordan, and Saudi Arabia) do not believe.
