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Finance and the Preservation of Wealth
Shleifer, Andrei; Gennaioli, Nicola; Vishny, Robert W. - National Bureau of Economic Research (NBER) - 2013
rises with aggregate wealth, and wealth grows relative to GDP. As a consequence, the ratio of financial income to GDP rises … trust and encouraged growth of financial income. …
Persistent link: https://www.econbiz.de/10010667293
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Financial innovation and financial fragility
Gennaioli, Nicola; Shleifer, Andrei; Vishny, Robert W. - 2010 - Second draft: May 2010
We present a standard model of financial innovation, in which intermediaries engineer securities with cash flows that investors seek, but modify two assumptions. First, investors (and possibly intermediaries) neglect certain unlikely risks. Second, investors demand securities with safe cash...
Persistent link: https://www.econbiz.de/10008737158
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Financial Innovation and Financial Fragility
Gennaioli, Nicola - 2013
We present a standard model of financial innovation, in which intermediaries engineer securities with cash flows that investors seek, but modify two assumptions. First, investors (and possibly intermediaries) neglect certain unlikely risks. Second, investors demand securities with safe cash...
Persistent link: https://www.econbiz.de/10013094236
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Salience Theory of Choice Under Risk
Bordalo, Pedro - 2015
We present a theory of choice among lotteries in which the decision maker's attention is drawn to (precisely defined … payoffs, our model provides a novel and unified account of many empirical phenomena, including frequent risk-seeking behavior … distinguish it from Prospect Theory, which we test. We also use the model to modify the standard asset pricing framework, and use …
Persistent link: https://www.econbiz.de/10013038557
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Chasing Noise
Mendel, Brock - 2010
size in the market. The model offers a partial explanation for the surprisingly low market price of financial risk in the …
Persistent link: https://www.econbiz.de/10013142931
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Salience
Bordalo, Pedro; Gennaioli, Nicola; Shleifer, Andrei - In: Annual review of economics 14 (2022), pp. 521-544
Persistent link: https://www.econbiz.de/10014427908
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Financial innovation and financial fragility
Gennaioli, Nicola; Shleifer, Andrei; Vishny, Robert W. - 2010
Persistent link: https://www.econbiz.de/10003981877
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Chasing noise
Mendel, Brock; Shleifer, Andrei - 2010
size in the market. The model offers a partial explanation for the surprisingly low market price of financial risk in the …
Persistent link: https://www.econbiz.de/10003975948
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Salience Theory of Choice Under Risk
Bordalo, Pedro - 2010
We present a theory of choice among lotteries in which the decision maker's attention is drawn to (precisely defined … payoffs, our model provides a novel and unified account of many empirical phenomena, including frequent risk-seeking behavior … distinguish it from Prospect Theory, which we test. We also use the model to modify the standard asset pricing framework, and use …
Persistent link: https://www.econbiz.de/10012462269
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Chasing Noise
Mendel, Brock - 2010
size in the market. The model offers a partial explanation for the surprisingly low market price of financial risk in the …
Persistent link: https://www.econbiz.de/10012462610