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Decision Support for Retirement Portfolio Management: Overcoming Myopic Loss Aversion via Technology Design
Looney, Clayton Arlen; Hardin, Andrew M. - In: Management Science 55 (2009) 10, pp. 1688-1703
for investors. However, when confronted with short-term information horizons, risk aversion can be successfully …
Persistent link: https://www.econbiz.de/10009191150
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Poker Player Behavior After Big Wins and Big Losses
Smith, Gary; Levere, Michael; Kurtzman, Robert - In: Management Science 55 (2009) 9, pp. 1547-1555
risk. Econometrica 47(2) 263-292) break-even hypothesis and suggests that when investors incur a large loss, it might be …
Persistent link: https://www.econbiz.de/10009208853
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Risk Aversion or Myopia? Choices in Repeated Gambles and Retirement Investments
Benartzi, Shlomo; Thaler, Richard H. - In: Management Science 45 (1999) 3, pp. 364-381
We study how decision makers choose when faced with multiple plays of a gamble or investment. When evaluating multiple …
Persistent link: https://www.econbiz.de/10009213956
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Financial Dollarization and Dedollarization
Fernández-Arias, Eduardo - Inter-American Development Bank - 2005
Financial dollarization is a key factor behind systemic financial fragility in Latin America. The experience shows that dedollarization can be achieved but can just as easily be missed, and worse: blunt dedollarization measures repressing dollarization may easily fail to solve fragility and,...
Persistent link: https://www.econbiz.de/10010654925
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Loss Aversion with a State-Dependent Reference Point
Giorgi, Enrico G. De; Post, Thierry - In: Management Science 57 (2011) 6, pp. 1094-1110
, exogenous reference point. Using historical U.S. investment benchmark data, we show that this model is consistent with … diversification across bonds and stocks for a wide range of evaluation horizons, despite the historically high-risk premium of stocks …
Persistent link: https://www.econbiz.de/10009191352
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Revisiting Economic Growth in Colombia: A Microeconomic Perspective
Arjona, Marcela Meléndez; Harker, Arturo - Inter-American Development Bank - 2008
particular spin to this conclusion by showing that investment decisions at the firm level are also explained by the restoration …, perhaps the most relevant result is the confirmation that in Colombia, investment decisions are negatively affected by the …
Persistent link: https://www.econbiz.de/10010943928
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Does Financial Liberalization Improve the Allocation of Investment?: Micro Evidence from Developing Countries
Galindo, Arturo José; Schiantarelli, Fabio; Weiss, Andrew - Inter-American Development Bank - 2002
also developed a summary index of the efficiency of investment allocation that measures whether, and to what extent …, investment funds are going to firms with a higher marginal return to capital. Then it was examined the relationship between this … has led to an increase in the efficiency with which investment funds are allocated. …
Persistent link: https://www.econbiz.de/10010944537
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Country Program Evaluation: Trinidad and Tobago (2000-2008) Title: Evaluación del programa de país: Trinidad y Tobago (2000-2008)
Inter-American Development Bank; Inter-American …; … - 2009
The 2000-2008 Country Program Evaluation (CPE) for Trinidad and Tobago (RE-353) was conducted by the Office of Evaluation and Oversight to inform the Board's discussion with IDB Management regarding future strategy for each country. It involved three weeks of missions to both Trinidad and...
Persistent link: https://www.econbiz.de/10010673378
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The Emergence of China: Opportunities and Challenges for Latin America and the Caribbean Title: El impacto de China: Oportunidades y retos para América Latina y el Caribe
Rodríguez-Clare, Andrés; Devlin, Robert; … - Inter-American Development Bank
China's size, rapid growth, external openness, and trade performance have led to varying perceptions among the countries of Latin America: Is China a potential new market, a potent new competitor, or both? This book assesses the near-term strategic implications of China's economic performance...
Persistent link: https://www.econbiz.de/10010772418
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Keynes Meets Markowitz: The Trade-Off Between Familiarity and Diversification
Boyle, Phelim; Garlappi, Lorenzo; Uppal, Raman; Wang, Tan - In: Management Science 58 (2012) 2, pp. 253-272
We develop a model of portfolio choice to nest the views of Keynes, who advocates concentration in a few familiar assets, and Markowitz, who advocates diversification. We use the concepts of ambiguity and ambiguity aversion to formalize the idea of an investor's "familiarity" toward assets. The...
Persistent link: https://www.econbiz.de/10010990532