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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
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Optimal portfolio management for individual pension plans
Gollier, Christian - 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/10002658238
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Optimal portfolio management for individual pensions plans
Gollier, Christian - In: Pension strategies in Europe and the United States, (pp. 273 - 291). 2008
Persistent link: https://www.econbiz.de/10014559851
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Optimal portfolio management for individual pension plans
Gollier, Christian - 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/10010261134
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Assets returns volatility and investment horizon : the french case
Bec, Frédérique; Gollier, Christian - 2009
, it turns out that bonds, equities and bills returns are actually predictable. This feature implies that the investment … conditional volatility across investment horizons. The results reveal the same kind of horizon effect as the one found in recent … returns with respect to bills and bonds returns decreases as the investment horizon grows. They suggest that long …
Persistent link: https://www.econbiz.de/10003833321
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Assets Returns Volatility and Investment Horizon : The French Case
Bec, Frederique - 2009
, it turns out that bonds, equities and bills returns are actually predictable. This feature implies that the investment … conditional volatility across investment horizons. The results reveal the same kind of horizon effect as the one found in recent … returns with respect to bills and bonds returns decreases as the investment horizon grows. They suggest that long …
Persistent link: https://www.econbiz.de/10013160520
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Time diversification, liquidity constraints, and decreasing aversion to risk on wealth
Gollier, Christian - In: Journal of monetary economics 49 (2002) 7, pp. 1439-1459
Persistent link: https://www.econbiz.de/10001706767
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To insure or not to insure? : An insurance puzzle
Gollier, Christian - In: The Geneva papers on risk and insurance theory 28 (2003) 1, pp. 5-24
Persistent link: https://www.econbiz.de/10001742345
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Optimal choice and beliefs with ex ante savoring and ex post disappointment
Gollier, Christian; Muermann, Alexander - 2006
We propose a new decision criterion under risk in which people extract both utility from anticipatory feelings ex ante and disutility from disappointment ex post. The decision maker chooses his degree of optimism, given that more optimism raises both the utility of ex ante feelings and the risk...
Persistent link: https://www.econbiz.de/10010298342
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Optimal Beliefs, Asset Prices, and the Preference for Skewed Returns
Brunnermeier, Markus K. - 2007
Human beings want to believe that good outcomes in the future are more likely, but also want to make good decisions that increase average outcomes in the future. We consider a general equilibrium model with complete markets and show that when investors hold beliefs that optimally balance these...
Persistent link: https://www.econbiz.de/10012777581