金融知识
多元化(营销策略)
文件夹
财务
业务
读写能力
建议(编程)
投资(军事)
精算学
经济
营销
经济增长
政治学
程序设计语言
法学
政治
计算机科学
作者
Hans‐Martin von Gaudecker
摘要
ABSTRACT Household investment mistakes are an important concern for researchers and policymakers alike. Portfolio underdiversification ranks among those mistakes that are potentially most costly. However, its roots and empirical importance are poorly understood. I estimate quantitatively meaningful diversification statistics and investigate their relationship with key variables. Nearly all households that score high on financial literacy or rely on professionals or private contacts for advice achieve reasonable investment outcomes. Compared to these groups, households with below‐median financial literacy that trust their own decision‐making capabilities lose an expected 50 bps on average. All group differences stem from the top of the loss distribution.
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