of stocks and bonds, the concept of risk diversification, and the working of financial markets. We also find that the …

that many households are unfamiliar with even the most basic economic concepts needed to make saving and investment …

i.e. there is no noise trader risk. Instead, traders expect that new rational entrants with different information in the …

explore this possibility, I develop a theory that unifies models of investment choice, informal risk sharing, and formal … financial contracts. I then test the predictions of this theory using a series of experiments with clients of a large … inefficiencies. First, borrowers free-ride on their partners, making risky investments without compensating partners for this risk …

competition a¤ects the industrial dynamics of investment, concentration, and expected returns. When firms have similar production …

market risk. From the viewpoint of unconstrained investors with complete investment freedom, risk can be optimally reduced by …In this article, we investigate risk return characteristics and diversification benefits when private equity is used as … and simultaneous investment simulation in stocks, as well as the construction of stock portfolios for benchmarking …

market risk. From the viewpoint of unconstrained investors with complete investment freedom, risk can be optimally reduced by …In this article, we investigate risk return characteristics and diversification benefits when private equity is used as … and simultaneous investment simulation in stocks, as well as the construction of stock portfolios for benchmarking …

We study optimal investment in self-protection of insured individuals when they face interdependencies in the form of …