Portfolio choice in the presence of nontradeable income : an experimental analysis

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URL:	https://ub-madoc.bib.uni-mannheim.de/2743
URN:	urn:nbn:de:bsz:180-madoc-27436
Document Type:	Working paper
Year of publication:	2004
The title of a journal, publication series:	Rationalitätskonzepte, Entscheidungsverhalten und ökonomische Modellierung
Volume:	04-01
Place of publication:	Mannheim
Publication language:	English
Institution:	School of Law and Economics > Sonstige - Fakultät für Rechtswissenschaft und Volkswirtschaftslehre
MADOC publication series:	Sonderforschungsbereich 504 > Rationalitätskonzepte, Entscheidungsverhalten und ökonomische Modellierung (Laufzeit 1997 - 2008)
Subject:	330 Economics
Classification:	JEL: G11 ,
Subject headings (SWD):	Portfoliomanagement , Anlageverhalten , Gehalt , Risiko , Humankapital
Keywords (English):	portfolio choice , experimental economics , nontradeable income , background risk
Abstract:	This paper reports the results of experiments on portfolio choice in the presence of nontradeable income. The nontradeable income part could either be riskless or risky (background risk). In many cases, we observe behavior which is qualitatively consistent with the predictions of normative theory. However, correlations between financial and nontradeable wealth are neglected. The computation of aggregated risk profiles helps subjects to partly overcome the deviations from normative theory due to neglect of correlations.

	Dieser Eintrag ist Teil der Universitätsbibliographie.
	Das Dokument wird vom Publikationsserver der Universitätsbibliothek Mannheim bereitgestellt.

BASE: Klos, Alexander ; Weber, Martin

Google Scholar: Klos, Alexander ; Weber, Martin

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