steers people to portfolios with lower returns and higher risk. My results have important implications for a welfare analysis …

checks. Finally, advertising is found to steer people towards portfolios with higher fees and more risk, through higher …

that the new optimum has a lower risk. The effect of the regulation depends on several things, most importantly the …In this chapter I argue that as a response to the introduction of capital requirements in the form of risk weights … investors might potentially choose riskier portfolios than before the regulation – this is, presumably, not what the regulation …

This paper assesses the impact of different quantitative approaches to regulate investment risk on the retirement … bad outcomes. Reducing the downside risk on retirement income from DC pension plans requires moving into relatively … of renouncing potentially higher replacement rates that are attainable but at a higher risk of unfavourable retirement …

deliver comparable replacement rates adjusted by risk. However, life cycle strategies that maintain a constant exposure to … for a given level of risk than the more deterministic strategies, at least in the case of pay-outs in the form of variable …

-selection problem under capital risk by assuming sophisticated but time-inconsistent agents. We introduce stochastic hyperbolic … greater than the time-consistent, exponential case and,importantly, it is also more responsive to changes in risk. These …