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This paper examines the proposition that fluctuations in discounts on closed end funds are driven by changes in individual investor sentiment toward closed end funds and other securities. The theory implies that discounts on various funds must move together, that new funds get started when...
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correlated in most villages with portfolio-choice estimates. The heterogeneity matters for policy: Although the average household …
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the rest of the economy via high unemployment and reduced labor earnings, which reduced household contributions to Social …
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This paper re-examines the classic question of how a household should optimally allocate its portfolio between risky …
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We test the relation between ambiguity aversion and five household portfolio choice puzzles: non- participation, low ….S. household survey, we measure ambiguity aversion using custom- designed questions based on Ellsberg urns. As theory predicts …
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This paper studies household financial choices: why are these decisions dependent on the education level of the … household? A life cycle model is constructed to understand a rich set of facts about decisions of households with different …
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