In a field study with more than 1.500 customers of an online-broker we test what happens when investors receive … repeated feedback on their investment success in a monthly securities account report. The reports show investors' last year …'s returns, costs, their current level of risk and their portfolio diversification. We find that receiving a report results in …

possible may be discriminatory or counterproductive. The 'experiment' of German reunification (exogenously) offered to East …

This paper assesses the impact of different quantitative approaches to regulate investment risk on the retirement … downside risk, which will increase the range of investment policies available and thus the share of riskier assets … investment policies available and, through this channel, how they affect the retirement income that an individual may expect from …

This paper assesses the relative performance of different investment strategies for different structures of the payout … phase. In particular, it looks at whether the specific glide-path of life-cycle investment strategies and the introduction … of dynamic features in the design of default investment strategies affect significantly retirement income outcomes. The …

In this chapter I argue that as a response to the introduction of capital requirements in the form of risk weights … that the new optimum has a lower risk. The effect of the regulation depends on several things, most importantly the … correlation between individual investments, investor preferences and the relative size of risk weights. …