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Dealers' insurance, market structure, and liquidity

Carapella, Francesca; Monnet, Cyril - 2018

We develop a parsimonious model to study the equilibrium structure of over-the-counter securities markets. We show that regulations aimed at reducing counterparty risk and improving liquidity can be ineffcient. Such regulations have a direct positive effect on entry in those markets, thus...

Persistent link: https://www.econbiz.de/10011873224

Robo-Advising

D'Acunto, Francesco - 2020

In this chapter, we first discuss the limitations of traditional financial advice, which led to the emergence of robo-advising. We then describe the main features of robo-advising and propose a taxonomy of robo-advisors based on four defining dimensions---personalization, discretion,...

Persistent link: https://www.econbiz.de/10012836714

Network Models to Improve Robot Advisory Portfolio Asset Allocation

Giudici, Paolo - 2020

Robot advisory services are rapidly expanding, responding to a growing interest people have in directly managing their … savings. Robot advisors may reduce costs and improve the quality of the service, making user involvement more transparent … mismatch between investors' expected and actual risk. The aim of the paper is to enhance robot advisory portfolio allocation …

Persistent link: https://www.econbiz.de/10012839259

Robo-Advising

D'Acunto, Francesco - 2020

Persistent link: https://www.econbiz.de/10012840565

On the Viability of Robo-Advising for Individual Investors

Lee, Yongjae - 2015

The development of robo-advising allows investors to receive advice on investments that were considered too small by traditional human advisers. In this paper, the viability of robo-advising for individual investors is discussed by investigating one of the basic strategies of portfolio...

Persistent link: https://www.econbiz.de/10013013210

The Promises and Pitfalls of Robo-Advising

D'Acunto, Francesco - 2018

We study a robo-advising portfolio optimizer that constructs tailored strategies based on in- vestors' holdings and preferences. Adopters are similar to non-adopters in terms of demographics, but have more assets under management, trade more, and have higher risk-adjusted performance. The...

Persistent link: https://www.econbiz.de/10012921212

The Promises and Pitfalls of Robo-Advising

D'Acunto, Francesco - 2018

We study a robo-advising portfolio optimizer that constructs tailored strategies based on investors' holdings and preferences. Adopters are similar to non-adopters in terms of demographics, but have more assets under management, trade more, and have higher risk-adjusted performance. The...

Persistent link: https://www.econbiz.de/10012927697

Do robo-advisors make us better investors?

Back, Camila; Morana, Stefan; Spann, Martin - 2021

Investors increasingly can obtain assistance from "robo-advisors," artificial intelligence - enabled digitalized service agents imbued with anthropomorphic design elements that can communicate using natural language. The present article considers the impact of anthropomorphized robo-advisors on...

Persistent link: https://www.econbiz.de/10012500401

The promises and pitfalls of robo-advising

D'Acunto, Francesco; Prabhala, Nagpurnanand R.; Rossi, … - In: The review of financial studies 32 (2019) 5, pp. 1983-2020

Persistent link: https://www.econbiz.de/10012033777

Robo advisors : quantitative methods inside the robots

Beketov, Mikhail; Lehmann, Kevin; Wittke, Manuel - In: The journal of asset management 19 (2018) 6, pp. 363-370

Persistent link: https://www.econbiz.de/10011958071