Mind the Gap: Inconsistencies Between Subjective and Objective Financial Risk Tolerance
| Autor: | Camilla Mazzoli, Fabrizio Palmucci, Nicoletta Marinelli |
|---|---|
| Přispěvatelé: | DIPARTIMENTO DI SCIENZE AZIENDALI, AREA MIN. 13 - Scienze economiche e statistiche, Marinelli, Nicoletta, Mazzoli, Camilla, Palmucci, Fabrizio |
| Jazyk: | angličtina |
| Rok vydání: | 2017 |
| Předmět: |
Financial risk tolerance
Risk profile Risk tolerance gap Suitable investment portfolios Experimental and Cognitive Psychology Finance Settore SECS-P/11 - Economia degli Intermediari Finanziari 050208 finance Actuarial science Suitable investment portfolio Financial risk 05 social sciences Financial risk management financial risk tolerance risk tolerance gap suitable investment portfolios risk profile Sample (statistics) Test (assessment) Consistency (negotiation) Time consistency 0502 economics and business Economics Portfolio Financial literacy 050207 economics |
| Popis: | none 3 no Investors' financial risk tolerance is crucial in the formulation of suitable financial advice; in the past, assessment efforts relied on multiple approaches and techniques, but their consistency is still an issue. The authors focus on 2 metrics traditionally proposed (self-assessment and portfolio composition) and test their mutual consistency on a sample of 2,374 investors. The approach allows them to discriminate between inconsistencies due to wrong portfolio compositions and those arising from wrong self-assessments. The authors show that low financial literacy, high income, no children, and incautious economic behavior are commonly associated with such inconsistencies. mixed Marinelli, Nicoletta; Mazzoli, Camilla*; Palmucci, Fabrizio Marinelli, Nicoletta; Mazzoli, Camilla*; Palmucci, Fabrizio |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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