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Financial decisions are the most important and life-shaping decisions individual make in their life. The increasing body of literature evidences the role of the individual psychological influence in their financial decisions. More specifically, the role of mental accounting is established in the...
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In household financial planning two types of risk are usually taken into account, that is – life-length risk and risk … distribution into household financial plan optimization. A model of 2-person household is used, where the value function is …-investment proportion and division of household investments between household members. These are at the same time decision variables of the …
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The term financial planning has been an area of research interest since few years. Studies have underlined the influence of various cognitive factors in individuals' financial decisions. The present study is also trying to underline the influence of various cognitive factors in personal...
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