Conventional advice is to reduce risky investments as one ages. Such a generalized focus on risk avoidance may be inappropriate for elderly with longer life spans and those with financial goals that extend beyond their lifetime. To better understand risky asset holdings among the elderly, we...

The elderly population in China has grown since 1999. Many Chinese businesses have noticed this trend and began to focus on the Gray Market. The behavior of older Chinese consumers has significantly changed. Descriptions of their behavior in previous research need to be updated. This paper uses...