This paper investigates risk-taking in the liquid portfolios held by a large panel of Swedish twins. We document that the portfolio share invested in risky assets is an increasing and concave function of financial wealth, leading to different risk sensitivities across investors. Human capital,...

Risk-taking behavior is highly correlated between parents and their children; however, little is known about the extent to which these relationships are genetic or determined by environmental factors. We use data on stock market participation of Swedish adoptees and relate this to the investment...

Risk-taking behavior is highly correlated between parents and their children; however, little is known about the extent to which these relationships are genetic or determined by environmental factors. We use data on stock market participation of Swedish adoptees and relate this to the investment...

Molecular genetic endowments related to cognition, personality, health, and body shape, established at least half a century prior, predict an individual's risk aversion, beliefs regarding the distribution of expected equity returns, and equity market participation. We estimate that approximately...

Cover -- Half Title -- Title Page -- Copyright Page -- Dedication -- Table of Contents -- List of illustrations -- 1. Biology and Psychology in Finance -- Nature versus Nurture -- What Can We Learn from the Financial Decisions of Twins? -- Investment of Adoptees and the Human Genome -- Do Men...