What Drives Variation in Investor Portfolios? Estimating the Roles of Beliefs and Risk Preferences
收藏NBER2021-12-01 更新2025-01-04 收录
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https://www.nber.org/papers/w29604
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资源简介：
We present a portfolio choice demand model that allows for the nonparametric estimation of investors (subjective) expectations and risk preferences. Using comprehensive 401(k)-plan-level data from 2009 through 2019, we explore heterogeneity in asset allocations using our empirical framework. We
提供机构：
美国国家经济研究局
创建时间：
2021-12-01
