Purpose: This article deals with the retail investors' decision-making under risk, firstly addressing several theories of decision-making under risk. Following this theoretical framework, an analysis on investment strategies on the Croatian capital market has been conducted....

Current discussions about public and private pension plans often include a statement that thestock market is less risky in the long run than in the short run. Pension plans with their ratherlong planning horizon are therefore asked to increase their allocation to the stock market.These...