Using a unique proprietary data set of over 5,400 realized and unrealized venture capital investments between 1980 and 2005, we examine the impact of supply-related factors, i.e. money provided by VC investors, as well as demand-related factors, e.g. entrepreneurial activity, on the return of...

This paper studies the optimal investment problem for a behavioral investor with probability distortion functions and an S-shaped utility function whose utility on gains satisfies the Inada condition at infinity, albeit not necessarily at zero, in a complete continuous-time financial market...