Why Does the Law of One Price Fail? An Experiment on Index Mutual Funds
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Experimental subjects allocate $10,000 across four S&P 500 index funds. Subject rewards depend on the chosen portfolio's subsequent return. Because the investments are not actually intermediated by the fund companies, portfolio returns are unbundled from non-portfolio services. The optimal portfolio
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美国国家经济研究局创建时间:
2006-05-01



