correlation explains both the limited diversification property and the portfolio inertia property in household portfolios and … retirement accounts. We further provide simulation evidences of the limited diversification and portfolio inertia feature of the …

In this paper, we re-examine investors' diversification attitude in the mean-variance model from the perspective of … Markowitz (1952)'s principle of diversification. Our analysis is based on the diversification returns, the specific Markowitz … (1952)'s principle of diversification measure in the mean-variance model. We show, regardless of whether or not the risk …

diversification, and holdings of an employer's stock. We find that each of these variables is correlated with sophistication, with …

This paper examines the relation between equity portfolio diversification choices of individual investors and stock … diversification clientele based portfolios can explain cross-sectional variations in returns for a considerable subset of stocks. The … diversification choices of individual investors influence stock returns …