EconPapers    
Economics at your fingertips  
 

Portfolio Choice in the Presence of Nontradeable Income: An Experimental Analysis

Alexander Klos () and Martin Weber
Additional contact information
Alexander Klos: Sonderforschungsbereich 504, Postal: L 13, 15, D-68131 Mannheim

No 04-01, Sonderforschungsbereich 504 Publications from Sonderforschungsbereich 504, Universität Mannheim, Sonderforschungsbereich 504, University of Mannheim

Abstract: This paper reports the results of experiments on portfolio choice in the presence of nontradeable income. The nontradeable income part could either be riskless or risky (background risk). In many cases, we observe behavior which is qualitatively consistent with the predictions of normative theory. However, correlations between financial and nontradeable 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: 2004-02-03
Note: Financial support from the Deutsche Forschungsgemeinschaft, SFB 504, at the University of Mannheim, is gratefully acknowledged.
References: View complete reference list from CitEc
Citations: View citations in EconPapers (1) Track citations by RSS feed

Downloads: (external link)
http://www.sfb504.uni-mannheim.de/publications/dp04-01.pdf (application/pdf)
Our link check indicates that this URL is bad, the error code is: 500 Can't connect to www.sfb504.uni-mannheim.de:80

Related works:
Journal Article: Portfolio Choice in the Presence of Non‐Tradable Income: An Experimental Analysis (2006) Downloads
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
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:xrs:sfbmaa:04-01

Ordering information: This working paper can be ordered from

Access Statistics for this paper

More papers in Sonderforschungsbereich 504 Publications from Sonderforschungsbereich 504, Universität Mannheim Contact information at EDIRC., Sonderforschungsbereich 504, University of Mannheim
Bibliographic data for series maintained by Carsten Schmidt (). This e-mail address is bad, please contact .

 
Page updated 2019-12-07
Handle: RePEc:xrs:sfbmaa:04-01