. As a practical example, the professional competition between fund managers is considered. To explore how different … ; genetic programming ; fund managers ; portfolio theory …

We propose a model of delegated portfolio management with career concerns. Investors hire fund managers to invest their … capital either in risky bonds or in riskless assets. Some managers have superior information on the default risk. Looking at … the past performance, investors update beliefs on their managers and make firing decisions. This leads to career concerns …

We propose a model where investors hire fund managers to invest either in risky bonds or in riskless assets. Some … managers have superior information on the default probability. Looking at the past performance, investors update beliefs on … their managers and make firing decisions. This leads to career concerns which affect investment decisions, generating a …

By running a battery of incentivized and non-incentivized experiments with fund managers from four countries in the … European Union, we investigate the impact of fund managers' cognitive skills and economic preferences on the dynamics of the … mutual funds they manage. First, we find that fund managers' risk tolerance positively correlates with fund risk when …

We propose a model where investors hire fund managers to invest either in risky bonds or in riskless assets. Some … managers have superior information on the default probability. Looking at the past performance, investors update beliefs on … their managers and make firing decisions. This leads to career concerns which affect investment decisions, generating a …

By running a battery of incentivized and non-incentivized experiments with fund managers from four countries in the … European Union, we investigate the impact of fund managers' cognitive skills and economic preferences on the dynamics of the … mutual funds they manage. First, we find that fund managers' risk tolerance positively correlates with fund risk when …