Ambiguity Aversion and Household Portfolio Choice Puzzles: Empirical Evidence

• Main Authors: Dimmock, Stephen Geoffrey, Kouwenberg, Roy, Mitchell, Olivia S., Peijnenburg, Kim
• 其他作者: Nanyang Business School
• 格式: Article
• 語言: English
• 出版: 2016
• 主題: ambiguity aversion; stock market participation; household portfolio puzzles; DRNTU::Business; home-bias; own-company stock puzzle; portfolio under-diversification; household finance
• 在線閱讀: https://hdl.handle.net/10356/82775; http://hdl.handle.net/10220/40311
• 機構: Nanyang Technological University

We test the relation between ambiguity aversion and five household portfolio choice puzzles: nonparticipation in equities, low allocations to equity, home-bias, own-company stock ownership, and portfolio under-diversification. In a representative US household survey, we measure ambiguity preferences...