We contribute to the literature by developing a model that studies the incentives of individuals to engage in market timing when their ability to trade is unknown. We characterize the optimal investment decision process and provide empirical predictions. Using administrative data from the...

This paper assesses the impact of different quantitative approaches to regulate investment risk on the retirement income stemming from defined contribution (DC) pension plans. It looks at how such regulations affect the spectrum of investment policies available and, through this channel, how...