Financial Windfalls, Portfolio Allocations, and Risk Preferences
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We investigate the impact of financial windfalls on household portfolio choices and risk exposure. Exploiting the randomized assignment of lottery prizes in three Swedish lotteries, we find a windfall gain of $100K leads to a 5-percentage-point decrease in the risky share of household portfolios. We
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美国国家经济研究局创建时间：
2023-11-01
