Replication Package for "The Diversification and Welfare Effects of Robo-advising"

Replication Files for
“The Diversification and Welfare Effects of Robo-advising”

CODES:
- 01_Figures_Final.do: produces Figures 1 through 4 and Figures 7 through 8.
- 02_Tables_Final.do: produces Tables 1 through 6, except for Column 1 in Table 4.
- 03_Table_4_Col_1_Figures_5_and_6.R: produces Column 1 of Table 4, Figure 5, and Figure 6.

RUNTIME:
The codes were run on Vanguard’s server with Stata 18 and 32GB of RAM memory and R
version 3.6.1. Runtime is 6-7 hours on real data and below 10 minutes on pseudo data.

DATA SETS:

The folder 02_data contains pseudo data with the same structure as the original data needed to run the “.do” and “.R” files for all tables and figures but contains however many rows are needed to execute the code. The original data sets are not available since they use proprietary information from Vanguard.