novel survey data from the top of the wealth distribution, which have been added to the 2019 German Socio-economic Panel … Study. The data include private wealth balance sheets, in particular the value of own private business assets, and a … share of their wealth in their own businesses when they are more willing to take risks. These associations are stronger …

novel survey data from the top of the wealth distribution, which have been added to the 2019 German Socio-economic Panel … Study. The data include private wealth balance sheets, in particular the value of own private business assets, and a … share of their wealth in their own businesses when they are more willing to take risks. These associations are stronger …

Using exogenous wealth shocks stemming from the collapse of the housing market, we show that managers who experience …

opportunities to play lotteries. We find that if the agents consider rank in the wealth distribution more important than wealth … wealth-rank mobility. In equilibrium, the rich agent avoids some positive expected return lotteries and both agents gamble on …

often modify risky decisions in response to dynamic wealth or asset thresholds, where they exist. Ignoring this dynamic risk … risk preferences and wealth dynamics may remedy the problem, but can be empirically challenging …

theoretical predictions show funds managers' choices of portfolio risk tolerances can be induced in entirety by wealth … vary intertemporally (increase) with funds managers' equilibrium minimum wealth conditions. Within markets characterized as … show choices of funds on basis of funds' risk tolerance alone engender transfers of wealth from investors to funds managers …