CALVET, LAURENT E.; SODINI, PAOLO - In: Journal of Finance 69 (2014) 2, pp. 867-906
type="main" <title type="main">ABSTRACT</title> <p>This paper investigates risk-taking in the liquid portfolios held by a large panel of Swedish twins. We document that the portfolio share invested in risky assets is an increasing and concave function of financial wealth, leading to different risk sensitivities across...</p>