User: Guest  Login
Author(s):
von Gaudecker, Hans-Martin 
Title:
How does household portfolio diversification vary with financial sophistication and advice? 
Abstract:
Economic theory suggests that households should invest their financial wealth in a combination of cash and a well-diversified equity portfolio. Yet, many households' equity investments are strongly concentrated in a few assets. Attempts to explain this discrepancy have included low levels of cognitive skills and/or financial knowledge; and poor or misguided financial advice. In order to investigate these claims empirically, I construct detailed portfolios for the respondents to a Dutch househol...    »
 
Keywords:
Arbeitspapier/Diskussionspapier 
Year:
2011