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Portfolio Choice in the Presence of Non‐Tradable Income: An Experimental Analysis

Alexander Klos and Martin Weber

German Economic Review, 2006, vol. 7, issue 4, 427-448

Abstract: Abstract. This paper reports the results of an experiment on portfolio choice in the presence of non‐tradable income. The non‐tradable income part could either be riskless or risky (background risk). In many cases, we observe behavior that is qualitatively consistent with the predictions of normative theory. However, correlations between financial and non‐tradable wealth are neglected. The computation of aggregated risk profiles helps subjects to partly overcome the deviations from normative theory due to neglect of correlations.

Date: 2006
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https://doi.org/10.1111/j.1468-0475.2006.00128.x

Related works:
Journal Article: Portfolio Choice in the Presence of Non-Tradable Income: An Experimental Analysis (2006) Downloads
Working Paper: Portfolio choice in the presence of nontradeable income: an experimental analysis (2004) Downloads
Working Paper: Portfolio Choice in the Presence of Nontradeable Income: An Experimental Analysis (2004) Downloads
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German Economic Review is currently edited by Bernhard Felderer, Joseph F. Francois, Ivo Welch, Urs Schweizer and David E. Wildasin

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