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Trading heterogeneity under information uncertainty

He, Xue-zhong; Zheng, Huanhuan - 2016

Persistent link: https://www.econbiz.de/10011778029

Awareness and stock market participation

Guiso, Luigi; Jappelli, Tullio - 2005

The paper documents lack of awareness of financial assets in the 1995 and 1998 Bank of Italy Surveys of Household Income and Wealth. It then explores the determinants of awareness, and finds that the probability that survey respondents are aware of stocks, mutual funds and investment accounts is...

Persistent link: https://www.econbiz.de/10010298272

Financial advisors: A case of babysitters?

Hackethal, Andreas; Haliassos, Michael; Jappelli, Tullio - 2009

We merge administrative information from a large German discount brokerage firm with regional data to examine if …

Persistent link: https://www.econbiz.de/10010303719

Cognitive abilities and portfolio choice

Christelis, Dimitris; Jappelli, Tullio; Padula, Mario - 2008

indirect participation through mutual funds and retirement accounts. Since the decision to invest in less information … abilities and stockholding is driven by information constraints, rather than by features of preferences or psychological traits …

Persistent link: https://www.econbiz.de/10003831230

Optimal incentives and securitization of defaultable assets

Malamud, Semyon; Rui, Huaxia; Whinston, Andrew B. - 2011

We study optimal securitization of defaultable assets in a continuous time setting. A financial intermediary can create a portfolio of defaultable assets and then sell it to outside investors. The default risk of the assets in the portfolio is determined by the unobservable costly effort exerted...

Persistent link: https://www.econbiz.de/10009375121

Investment in financial literacy, social security and portfolio choice

Jappelli, Tullio; Padula, Mario - 2013

We present an intertemporal portfolio choice model where individuals invest in financial literacy, save, allocate their wealth between a safe and a risky asset, and receive a pension when they retire. Financial literacy affects the excess return and the cost of stock market participation. Since...

Persistent link: https://www.econbiz.de/10010200795

Financial advisors : a case of babysitters?

Hackethal, Andreas; Chaliasos, Michaēl; Jappelli, Tullio - 2009

We merge administrative information from a large German discount brokerage firm with regional data to examine if …

Persistent link: https://www.econbiz.de/10003864097

Mutual funds and risk disclosure : information content of fund prospectuses

Krakow, Jonathan; Schäfer, Timo - 2020

Mutual funds are mandated by the Securities and Exchange Commission (SEC) to disclose information on their investment … that regular content-based updates of the disclosed risks provide relevant information in predicting future fund … performance. Investors, however, do not react to this new information but rather to the content's informativeness. Finally, using …

Persistent link: https://www.econbiz.de/10012271034

Human vs. machine: disposition effect among algorithmic and human day traders

Liaudinskas, Karolis - 2022

This paper studies whether and why algorithmic traders exhibit one of the most broadlydocumented behavioral puzzles - the disposition effect. We use trade data from the NASDAQ Copenhagen Stock Exchange merged with the weather data. We find that on average, the disposition effect for human...

Persistent link: https://www.econbiz.de/10013207355

Overdeterminacy and endogenous cycles :Trygve Haavelmo’s business cycle model and its implications for monetary policy

Anundsen, André K.; Krogh, Tord S. H.; Nymoen, Ragnar; … - 2011 - Publisert 10. feb. 2011 11:06

This paper presents the business cycle model that Trygve Haavelmo developed as part of his research program in macroeconomic and monetary theory. Driven by a mismatch between the marginal return to capital and the rate of return required by capital owners, this model generates endogenous cycles....

Persistent link: https://www.econbiz.de/10008825351