Zobrazeno 1 - 10
of 19
pro vyhledávání: '"Milo Bianchi"'
Publikováno v:
Economic Theory. 74:505-546
Consider a rm owned by shareholders with heterogeneous beliefs and run by a manager who chooses random production plans. Shareholders do not observe the chosen plan but only its realization. The nancial market consists of assets contingent on product
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::147a06baf5485a82c9fc26bd366b1924
https://doi.org/10.1007/s00199-022-01440-6
https://doi.org/10.1007/s00199-022-01440-6
Publikováno v:
Economic Theory. 73:1101-1134
Consider a firm owned by shareholders with heterogeneous beliefs and discount rates who delegate to a manager the choice of a production plan. The shareholders and the manager can trade contingent claims in a complete asset market. Shareholders canno
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::e532107d5974b8fc5a03439a668548d2
https://doi.org/10.1007/s00199-021-01349-6
https://doi.org/10.1007/s00199-021-01349-6
Publikováno v:
SSRN Electronic Journal.
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::6b02044149f6a607dea3ec05fc59545b
https://doi.org/10.2139/ssrn.4003445
https://doi.org/10.2139/ssrn.4003445
Autor:
Milo Bianchi, Marie Brière
Publikováno v:
SSRN Electronic Journal.
We start by considering some of the key reasons behind the academic and industry interest in robo-advisors. We discuss how robo-advice could potentially address some fundamental problems in investors’ decision making as well as in traditional finan
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::2929d97057d321dafdf6677acac07ae7
https://doi.org/10.2139/ssrn.3825110
https://doi.org/10.2139/ssrn.3825110
Publikováno v:
SSRN Electronic Journal.
We design an experiment to study how investors form their expectations and make risky investments under different market conditions. Together with the past realizations of a risky asset, our subjects observe a signal a that, in some rounds, helps pre
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::c1460265bdf7b46335e96053c39e041a
https://doi.org/10.2139/ssrn.3710466
https://doi.org/10.2139/ssrn.3710466
Autor:
Philippe Jehiel, Milo Bianchi
Publikováno v:
Theoretical Economics
Theoretical Economics, Econometric Society, 2020, 15 (2), pp.545-582. ⟨10.3982/TE3726⟩
Theoretical Economics, Econometric Society, 2020, vol. 15 (2), pp.545-582. ⟨10.3982/TE3726⟩
Theoretical Economics, Econometric Society, 2020, 15 (2), pp.545-582. ⟨10.3982/TE3726⟩
Theoretical Economics, Econometric Society, 2020, vol. 15 (2), pp.545-582. ⟨10.3982/TE3726⟩
International audience; We study banks' incentive to pool assets of heterogeneous quality when investors evaluate pools by extrapolating from limited sampling. Pooling assets of heterogeneous quality induces dispersion in investors' valuations withou
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::af93e38b368428e6028a2bd237f40bd6
https://halshs.archives-ouvertes.fr/halshs-02875044
https://halshs.archives-ouvertes.fr/halshs-02875044
Autor:
Marie Brière, Milo Bianchi
Publikováno v:
SSRN Electronic Journal.
We study the introduction of robo-advising on a large representative sample of Employee Saving Plans. Differently from many services that fully automate portfolio decisions, our robo-advisor proposes investment and rebalancing strategies, leaving inv
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::13ca12c1db3950b362e46f0d387a75bd
https://doi.org/10.2139/ssrn.3751620
https://doi.org/10.2139/ssrn.3751620
Autor:
Milo Bianchi
Publikováno v:
The Journal of Finance. 73:831-859
We match administrative panel data on portfolio choices with survey measures of financial literacy. When we control for portfolio risk, the most literate households experience 0.4% higher annual returns than the least literate households. Distinct po
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::0357e01f65c42dc2e6322824ec95ad9e
https://doi.org/10.1111/jofi.12605
https://doi.org/10.1111/jofi.12605
Autor:
Jean-Marc Tallon, Milo Bianchi
Publikováno v:
Management Science
Management Science, INFORMS, 2019, 65 (4), pp.1486-1501. ⟨10.1287/mnsc.2017.3006⟩
Management Science, INFORMS, In press
Management Science, INFORMS, 2019, 65 (4), pp.1486-1501. ⟨10.1287/mnsc.2017.3006⟩
Management Science, INFORMS, In press
We match administrative panel data on portfolio choices with survey data on preferences over ambiguity. We show that ambiguity averse investors bear more risk, due to a lack of diversification. In particular, they exhibit a form of home bias that lea
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::14e40057818a0fcc5a31a816233a3fc3
https://halshs.archives-ouvertes.fr/halshs-01886572
https://halshs.archives-ouvertes.fr/halshs-01886572
Autor:
Philippe Jehiel, Milo Bianchi
Publikováno v:
SSRN Electronic Journal.
We study banks' incentive to pool assets of heterogeneous quality when investors evaluate pools by extrapolating from limited sampling. Pooling assets of heterogeneous quality induces dispersion in investors' valuations without affecting their averag
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::6ecc811104ea9f7bb9fed3162d9cc4aa
https://doi.org/10.2139/ssrn.3482350
https://doi.org/10.2139/ssrn.3482350