Similar Search Results

Misperceived returns to active investing

Haaland, Ingar; Naess, Ole-Andreas Elvik - 2023

We conduct field experiments with retail investors recruited from a social trading platform. In our main experiment, we first elicit beliefs about the returns to active investing. We then generate exogenous variation in beliefs by providing treated respondents with information about index funds...

Persistent link: https://www.econbiz.de/10013536190

The standard portfolio choice problem in Germany

Huck, Steffen; Schmidt, Tobias; Weizsäcker, Georg - 2015

We study an investment experiment conducted with a representative sample of German households. Respondents invest in a safe asset and a risky asset whose return is tied to the German stock market. Experimental investments correlate with beliefs about stock market returns and exhibit desirable...

Persistent link: https://www.econbiz.de/10011298558

Optimal portfolio management for individual pension plans

Gollier, Christian (contributor) - 2005

We explore the various arguments for and against the recommendation that younger households should invest a larger share of their pension wealth in risky assets. The ability of young agents to compensate their financial losses by saving more during their career provides the strongest argument in...

Persistent link: https://www.econbiz.de/10002577086

The dynamics of households' stock market beliefs

Gaudecker, Hans-Martin von; Wogrolly, Axel - 2019

We analyse a long panel of households' stock market beliefs to gain insights into the nature of their expectations formation processes. We classify respondents into one of five groups based on their data and estimate group-wise models of expectations formation. Two of the groups are at opposite...

Persistent link: https://www.econbiz.de/10011996781

Equity fund ownership and the cross-regional diversification of household risk

Becker, Sascha O. (contributor); … - 2008

Persistent link: https://www.econbiz.de/10003630847

Tenure choice, portfolio structure and long-term care : optimal risk management in retirement

Fehr, Hans; Hofmann, Maurice - 2019

risks in retirement. Our life cycle model captures these links in order to explain why homeownership in Germany is so low … in Germany by 10-15 percentage points. …

Persistent link: https://www.econbiz.de/10012050806

Insensitive investors

Charles, Constantin; Frydman, Cary; Kilic, Mete - 2022

We show theoretically that the weak transmission of beliefs to actions induces a strong bias in basic asset pricing tests. In particular, expected returns can appear to decline in risk when investors weakly transmit their payoff expectations into willingness to pay. We experimentally test this...

Persistent link: https://www.econbiz.de/10013440420

Illusion of expertise in portfolio decisions : an experimental approach

Fellner, Gerlinde; Güth, Werner; Maciejovsky, Boris - 2001

Overall, 72 subjects invest their endowment in four risky assets. Each com-bination of assets yields the same expected return and variance of returns. Illusion of expertise prevails when one prefers nevertheless the self-selected portfolio. After being randomly assigned to groups of four...

Persistent link: https://www.econbiz.de/10011408429

Wealth and its distribution in Germany, 1895-2018

Albers, Thilo N. H.; Bartels, Charlotte; Schularick, Moritz - 2022

comprehensive study of wealth and its distribution in Germany since the 19th century. We combine tax and archival data, household …

Persistent link: https://www.econbiz.de/10013187686

Differences in euro-area household finances and their relevance for monetary-policy transmission

Hintermaier, Thomas; Koeniger, Winfried - 2018

prices in the four largest economies in the euro area: France, Germany, Italy, and Spain. We first calibrate a life … portfolios, observed in the Household Finance and Consumption Survey (HFCS) for these countries. We then show that the … heterogeneity in household finances implies that responses of consumption to changes in the real interest rate and in house prices …

Persistent link: https://www.econbiz.de/10011863469

1
2
3
4
5
6
7
8
9
10
Next
Last