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We examine the relation between households' wealth and relative risk aversion (RRA) in two different frameworks: the Behavioral Portfolio Theory (BPT) and Merton's (1969) consumption and portfolio choice model (CPCM). We apply the BPT to field data for the first time and show that the BPT...
Persistent link: https://www.econbiz.de/10012895875
We examine the relation between households’ wealth and relative risk aversion (RRA) in two different frameworks: the Behavioral Portfolio Theory (BPT) and Merton’s consumption and portfolio choice model (CPCM). We apply the BPT to field data for the first time and show that the BPT provides...
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Purpose – The purpose of this paper is to analyze whether key investor information documents (KIDs) provided by suppliers/issuers help retail investors to understand the key characteristics of financial products. KIDs are fact sheets composed to describe the characteristics of financial...
Persistent link: https://www.econbiz.de/10010795438
Purpose – The purpose of this paper is to analyze whether key investor information documents (KIDs) provided by suppliers/issuers help retail investors to understand the key characteristics of financial products. KIDs are fact sheets composed to describe the characteristics of financial...
Persistent link: https://www.econbiz.de/10014870838
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