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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 …

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

Risk-taking-neutral background risk

Franke, Günter; Schlesinger, Harris; Stapleton, Richard C. - 2013

a RTN background risk. We use this methodology to prove and extend a well-known theorem about dynamic investment … strategy, due to Mossin (1968a). We also use this methodology to analyze investment behavior in the presence of an income tax … as well as to analyze investment behavior in the presence of particular types of background risks. -- background risk …

Persistent link: https://www.econbiz.de/10009690709

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

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

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

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

Tax-exempt investors and the asset allocation puzzle

Mintz, Jack M.; Smart, Michael - 2000

Investors frequently hold equity in tax-exempt savings vehicles such as pension plans, despite the prediction of the standard model that they hold only bonds. We provide a new explanation for this empirical puzzle based on differences between pensions and taxable assets in the tax treatment of...

Persistent link: https://www.econbiz.de/10009781516

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

Fehr, Hans; Hofmann, Maurice - 2019

We study the interplay between tenure decisions, stock market investment and the public social security system. Housing …

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

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

Start-up investment with scarce venture capital support

Kanniainen, Vesa; Keuschnigg, Christian - 2001

Start-up entrepreneurs are often commercially inexperienced. In giving managerial advice, venture capitalists can importantly enhance the success of innovative but highly risky ventures. The supply of experienced venture capitalists is not easily increased, however. When the rate of business...

Persistent link: https://www.econbiz.de/10011398098

Cyclical asset returns in the consumption and investment goods sector

Heer, Burkhard; Maussner, Alfred; Süssmuth, Bernd - 2013

We document the empirical fact that asset prices in the consumption-goods and investment-goods sector behave almost …

Persistent link: https://www.econbiz.de/10009786095

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