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


Klos, Alexander ; Weber, Martin


[img]
Preview
PDF
dp04_01.pdf - Published

Download (515kB)

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.




+ Citation Example and Export

Klos, Alexander ; Weber, Martin (2004) Portfolio choice in the presence of nontradeable income : an experimental analysis. Open Access Rationalitätskonzepte, Entscheidungsverhalten und ökonomische Modellierung Mannheim 04-01 [Working paper]
[img]
Preview


+ Search Authors in

+ Download Statistics

Downloads per month over past year

View more statistics



You have found an error? Please let us know about your desired correction here: E-Mail


Actions (login required)

Show item Show item