메뉴 건너뛰기




Volumn 12, Issue 2, 2009, Pages 251-271

Solutions to the asset allocation problem by informed respondents: The significance of the size-of-bet and the 1/N heuristic

Author keywords

[No Author keywords available]

Indexed keywords


EID: 69649088403     PISSN: 10981616     EISSN: None     Source Type: Journal    
DOI: 10.1111/j.1540-6296.2009.01166.x     Document Type: Article
Times cited : (7)

References (50)
  • 1
    • 0004245883 scopus 로고    scopus 로고
    • (Cambridge, UK: Cambridge University Press)
    • Ainslie, G., 2001, Breakdown of Will (Cambridge, UK: Cambridge University Press).
    • (2001) Breakdown of Will
    • Ainslie, G.1
  • 2
    • 0002257924 scopus 로고
    • Hypobolic Discounting
    • in: G. Lowenstein and J. Elster, eds. (New York: Russell Sage Foundation)
    • Ainslie, G., and N. Haslam, 1992a, Hypobolic Discounting, in: G. Lowenstein and J. Elster, eds., Choice Over Time (New York: Russell Sage Foundation), pp. 57-92.
    • (1992) Choice Over Time , pp. 57-92
    • Ainslie, G.1    Haslam, N.2
  • 3
    • 0002037151 scopus 로고
    • Self-Control
    • in: G. Lowenstein and J. Elster, eds. (New York: Russell Sage Foundation)
    • Ainslie, G., and N. Haslam, 1992b, Self-Control, in: G. Lowenstein and J. Elster, eds., Choice Over Time (New York: Russell Sage Foundation), pp. 177-209.
    • (1992) Choice Over Time , pp. 177-209
    • Ainslie, G.1    Haslam, N.2
  • 5
    • 84924037310 scopus 로고    scopus 로고
    • Gender, the Family, and Economy
    • in: G. L. Clark, A. Munnell, and M. Orszag, eds. (Oxford, UK: Oxford University Press)
    • Bajtelsmit, V., 2006, Gender, the Family, and Economy, in: G. L. Clark, A. Munnell, and M. Orszag, eds., Oxford Handbook of Pensions and Retirement Income (Oxford, UK: Oxford University Press), pp. 121-140.
    • (2006) Oxford Handbook of Pensions and Retirement Income , pp. 121-140
    • Bajtelsmit, V.1
  • 6
    • 84919960163 scopus 로고    scopus 로고
    • Individual Investors
    • in: R. Thaler, ed. (Princeton, NJ: Princeton University Press)
    • Barber, B. M., and T. Odean, 2005, Individual Investors, in: R. Thaler, ed., Advances in Behavioural Finance Volume II (Princeton, NJ: Princeton University Press), pp. 543-569.
    • (2005) Advances in Behavioural Finance Volume II , pp. 543-569
    • Barber, B.M.1    Odean, T.2
  • 8
    • 0004201621 scopus 로고    scopus 로고
    • 3rd edition (Cambridge, UK: Cambridge University Press)
    • Baron, J., 2000, Thinking and Deciding, 3rd edition (Cambridge, UK: Cambridge University Press).
    • (2000) Thinking and Deciding
    • Baron, J.1
  • 9
    • 69649086887 scopus 로고    scopus 로고
    • Appropriateness of Default Investment Options in Defined Contribution Plans: The Australian Evidence
    • Mimeo, School of Economics and Finance, Queensland University of Technology
    • Basu, A., and M. Drew, 2006, Appropriateness of Default Investment Options in Defined Contribution Plans: The Australian Evidence, Mimeo, School of Economics and Finance, Queensland University of Technology.
    • (2006)
    • Basu, A.1    Drew, M.2
  • 10
    • 40949133946 scopus 로고    scopus 로고
    • Asset Liability Management
    • in: G. L. Clark, A. Munnell, and M. Orszag, eds. (Oxford, UK: Oxford University Press)
    • Bauer, R., R. Hoevenaars, and T. Steenkamp, 2006, Asset Liability Management, in: G. L. Clark, A. Munnell, and M. Orszag, eds., Oxford Handbook of Pensions and Retirement Income (Oxford, UK: Oxford University Press), pp. 417-440.
    • (2006) Oxford Handbook of Pensions and Retirement Income , pp. 417-440
    • Bauer, R.1    Hoevenaars, R.2    Steenkamp, T.3
  • 11
    • 0007935565 scopus 로고    scopus 로고
    • Näive Diversification Strategies in Defined Contribution Savings Plans
    • Benartzi, S., and R. Thaler, 2001, Näive Diversification Strategies in Defined Contribution Savings Plans, American Economic Review, 91: 71-99.
    • (2001) American Economic Review , vol.91 , pp. 71-99
    • Benartzi, S.1    Thaler, R.2
  • 12
    • 0040036834 scopus 로고    scopus 로고
    • Asset Allocation Dynamics and Pension Fund Performance
    • Blake, D., B. N. Lehmann, and A. Timmermann, 1999, Asset Allocation Dynamics and Pension Fund Performance, Journal of Business, 72: 429-461.
    • (1999) Journal of Business , vol.72 , pp. 429-461
    • Blake, D.1    Lehmann, B.N.2    Timmermann, A.3
  • 14
    • 0141640999 scopus 로고    scopus 로고
    • Decision Making With the "Adaptive Toolbox": Influence of Environmental Structure, Intelligence, and Working Memory Load
    • Bröder, A., 2003, Decision Making With the "Adaptive Toolbox": Influence of Environmental Structure, Intelligence, and Working Memory Load, Journal of Experimental Psychology: Learning, Memory and Cognition, 29: 611-624.
    • (2003) Journal of Experimental Psychology: Learning, Memory and Cognition , vol.29 , pp. 611-624
    • Bröder, A.1
  • 15
    • 0033270827 scopus 로고    scopus 로고
    • The Effects of Financial Incentives in Experiments: A Review and Capital-Labor-Production Framework
    • Camerer, C., and R. Hogarth, 1999, The Effects of Financial Incentives in Experiments: A Review and Capital-Labor-Production Framework, Journal of Risk and Uncertainty, 19: 7-42.
    • (1999) Journal of Risk and Uncertainty , vol.19 , pp. 7-42
    • Camerer, C.1    Hogarth, R.2
  • 16
    • 69649107264 scopus 로고    scopus 로고
    • Strategic Asset Allocation for Pension Plans
    • in: G. L. Clark, A. Munnell, and M. Orszag, eds. (Oxford, UK: Oxford University Press)
    • Campbell, J. Y., and L. M. Viceira, 2006, Strategic Asset Allocation for Pension Plans, in: G. L. Clark, A. Munnell, and M. Orszag, eds., The Oxford Handbook of Pensions and Retirement Income (Oxford, UK: Oxford University Press), pp. 441-455.
    • (2006) The Oxford Handbook of Pensions and Retirement Income , pp. 441-455
    • Campbell, J.Y.1    Viceira, L.M.2
  • 18
    • 85022885587 scopus 로고    scopus 로고
    • Pension Fund Governance: Expertise and Organisational Form
    • Clark, G. L., 2004, Pension Fund Governance: Expertise and Organisational Form, Journal of Pension Economics and Finance, 3: 233-253.
    • (2004) Journal of Pension Economics and Finance , vol.3 , pp. 233-253
    • Clark, G.L.1
  • 19
    • 85014349487 scopus 로고    scopus 로고
    • Pension Fund Trustee Competence: Decision Making in Problems Relevant to Investment Practice
    • Clark, G. L., E. Caerlewy-Smith, and J. C. Marshall, 2006, Pension Fund Trustee Competence: Decision Making in Problems Relevant to Investment Practice, Journal of Pension Economics and Finance, 5: 91-110.
    • (2006) Journal of Pension Economics and Finance , vol.5 , pp. 91-110
    • Clark, G.L.1    Caerlewy-Smith, E.2    Marshall, J.C.3
  • 21
    • 0013397879 scopus 로고    scopus 로고
    • Investor Psychology and Security Market Under- and Over-Reaction
    • Daniel, K., D. Hirshleifer, and A. Subrahmanyam, 1997, Investor Psychology and Security Market Under- and Over-Reaction, Journal of Finance, 52: 1-33.
    • (1997) Journal of Finance , vol.52 , pp. 1-33
    • Daniel, K.1    Hirshleifer, D.2    Subrahmanyam, A.3
  • 22
    • 0036274971 scopus 로고    scopus 로고
    • Participation and Investment Decisions in a Retirement Plan: The Influence of Colleagues' Choices
    • Duflo, E., and E. Saez, 2002, Participation and Investment Decisions in a Retirement Plan: The Influence of Colleagues' Choices, Journal of Public Economics, 85: 121-148.
    • (2002) Journal of Public Economics , vol.85 , pp. 121-148
    • Duflo, E.1    Saez, E.2
  • 23
    • 33644857852 scopus 로고    scopus 로고
    • "Economic Man" in Cross-Cultural Perspective: Behavioral Experiments in 15 Small Scale Societies
    • Henrich, J. et al., 2005, "Economic Man" in Cross-Cultural Perspective: Behavioral Experiments in 15 Small Scale Societies, Behavioral and Brain Sciences, 28: 795-815.
    • (2005) Behavioral and Brain Sciences , vol.28 , pp. 795-815
    • Henrich, J.1
  • 24
    • 12444270201 scopus 로고    scopus 로고
    • Economists' and Psychologists' Experimental Practices: How They Differ, Why They Differ, and How They Could Converge
    • in: I. Brocas and J. D. Carrillo, eds. (Oxford, UK: Oxford University Press)
    • Hertwig, R., and A. Ortmann, 2003, Economists' and Psychologists' Experimental Practices: How They Differ, Why They Differ, and How They Could Converge, in: I. Brocas and J. D. Carrillo, eds., The Psychology of Economic Decisions: Volume 1: Rationality and Well-Being (Oxford, UK: Oxford University Press), pp. 253-272.
    • (2003) The Psychology of Economic Decisions: Volume 1: Rationality and Well-Being , pp. 253-272
    • Hertwig, R.1    Ortmann, A.2
  • 25
    • 33644899396 scopus 로고    scopus 로고
    • Offering Versus Choice in 401(k) Plans: Equity Exposure and Number of Funds
    • Huberman, G., and W. Jiang, 2006, Offering Versus Choice in 401(k) Plans: Equity Exposure and Number of Funds, Journal of Finance, 61: 763-801.
    • (2006) Journal of Finance , vol.61 , pp. 763-801
    • Huberman, G.1    Jiang, W.2
  • 26
    • 0003993927 scopus 로고
    • Kagel, J., and A. Roth, eds., (Princeton, NJ: Princeton University Press)
    • Kagel, J., and A. Roth, eds., 1995, The Handbook of Experimental Economics (Princeton, NJ: Princeton University Press).
    • (1995) The Handbook of Experimental Economics
  • 27
    • 2942700268 scopus 로고    scopus 로고
    • Maps of Rationality: Psychology for Behavioural Economics
    • Kahneman, D., 2003, Maps of Rationality: Psychology for Behavioural Economics, American Economic Review, 93: 1449-1475.
    • (2003) American Economic Review , vol.93 , pp. 1449-1475
    • Kahneman, D.1
  • 28
    • 0000125532 scopus 로고
    • Prospect Theory: An Analysis of Decisions Under Risk
    • Kahneman, D., and A. Tversky, 1979, Prospect Theory: An Analysis of Decisions Under Risk, Econometrica, 47: 263-291.
    • (1979) Econometrica , vol.47 , pp. 263-291
    • Kahneman, D.1    Tversky, A.2
  • 30
    • 21744449113 scopus 로고    scopus 로고
    • Golden Eggs and Hyperbolic Discounting
    • Laibson, D., 2003, Golden Eggs and Hyperbolic Discounting, Quarterly Journal of Economics, 62: 443-477.
    • (2003) Quarterly Journal of Economics , vol.62 , pp. 443-477
    • Laibson, D.1
  • 32
    • 33645566203 scopus 로고    scopus 로고
    • Money as Tool, Money as Drug: The Biological Psychology of a Strong Incentive
    • Lea, S. E. G., and P. Webley, 2006, Money as Tool, Money as Drug: The Biological Psychology of a Strong Incentive, Behavioural and Brain Sciences, 29: 161-209.
    • (2006) Behavioural and Brain Sciences , vol.29 , pp. 161-209
    • Lea, S.E.G.1    Webley, P.2
  • 34
    • 2442691207 scopus 로고    scopus 로고
    • and the Quantitative Resources Group, (New York: Wiley)
    • Litterman, B., and the Quantitative Resources Group, 2003, Modern Investment Management (New York: Wiley).
    • (2003) Modern Investment Management
    • Litterman, B.1
  • 35
    • 0039888638 scopus 로고    scopus 로고
    • The Power of Suggestion: Inertia in 401(k) Participation and Savings Behaviour
    • Madrian, B., and D. F. Shea, 2001, The Power of Suggestion: Inertia in 401(k) Participation and Savings Behaviour, Quarterly Journal of Economics, 116: 1149-1187.
    • (2001) Quarterly Journal of Economics , vol.116 , pp. 1149-1187
    • Madrian, B.1    Shea, D.F.2
  • 37
    • 69649094339 scopus 로고    scopus 로고
    • Mercer Investment Consulting, (Chicago). Available at: (accessed April 21, 2007)
    • Mercer Investment Consulting, 2006, Manager Search Trends Year-End 2005 (Chicago). Available at: http://www.merceric.com/knowledgecenter (accessed April 21, 2007).
    • (2006) Manager Search Trends Year-End 2005
  • 41
    • 0001567393 scopus 로고
    • Safety First and the Holding of Financial Assets
    • Roy, A. D., 1950, Safety First and the Holding of Financial Assets, Econometrica, 20: 431-449.
    • (1950) Econometrica , vol.20 , pp. 431-449
    • Roy, A.D.1
  • 43
    • 58149433367 scopus 로고
    • Rational Choice and the Structure of the Environment
    • Simon, H. A., 1956, Rational Choice and the Structure of the Environment, Psychology Review, 63: 129-138.
    • (1956) Psychology Review , vol.63 , pp. 129-138
    • Simon, H.A.1
  • 44
    • 0034488449 scopus 로고    scopus 로고
    • Individual Differences in Reasoning: Implications for the Rationality Debate
    • Stanovich, K. E., and R. F. West, 2000, Individual Differences in Reasoning: Implications for the Rationality Debate, Behavioural and Brain Sciences, 23: 645-726.
    • (2000) Behavioural and Brain Sciences , vol.23 , pp. 645-726
    • Stanovich, K.E.1    West, R.F.2
  • 47
    • 69649094592 scopus 로고    scopus 로고
    • Choice, Saving, and Pensions
    • in: G. L. Clark, A. Munnell, and M. Orszag, eds. (Oxford, UK: Oxford University Press)
    • Venti, S., 2006, Choice, Saving, and Pensions, in: G. L. Clark, A. Munnell, and M. Orszag, eds., The Oxford Handbook of Pensions and Retirement Income (Oxford, UK: Oxford University Press), pp. 602-617.
    • (2006) The Oxford Handbook of Pensions and Retirement Income , pp. 602-617
    • Venti, S.1
  • 48
  • 49
    • 33750994721 scopus 로고    scopus 로고
    • Smart People Doing Dumb Things: The Case of Managerial Incompetence
    • in: R. J. Sternberg ed. (New Haven, CT: Yale University Press)
    • Wagner, R. K., 2002, Smart People Doing Dumb Things: The Case of Managerial Incompetence, in: R. J. Sternberg, ed., Why Smart People Can Be so Stupid (New Haven, CT: Yale University Press), pp. 42-63.
    • (2002) Why Smart People Can Be So Stupid , pp. 42-63
    • Wagner, R.K.1
  • 50
    • 0037812631 scopus 로고
    • Another Type of Risk Aversion
    • Zeckhauser, R., and E. Keeler, 1970, Another Type of Risk Aversion, Econometrica, 38: 661-665.
    • (1970) Econometrica , vol.38 , pp. 661-665
    • Zeckhauser, R.1    Keeler, E.2


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.