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- catalog abstract "We analyze the asset-allocation decisions of two stylized groups: individuals and institutions. Our results suggest that individuals reduce their percentage equity allocations more than institutions during the trough of the business cycle, when expected equity returns are high. Individuals purchase equities from institutions subsequent to positive and sell subsequent to negative equity returns. These results are consistent with countercyclical variation in the risk aversion of individuals.".
- catalog contributor b12964487.
- catalog contributor b12964488.
- catalog created "c2003.".
- catalog date "2003".
- catalog date "c2003.".
- catalog dateCopyrighted "c2003.".
- catalog description "Includes bibliographical references.".
- catalog description "We analyze the asset-allocation decisions of two stylized groups: individuals and institutions. Our results suggest that individuals reduce their percentage equity allocations more than institutions during the trough of the business cycle, when expected equity returns are high. Individuals purchase equities from institutions subsequent to positive and sell subsequent to negative equity returns. These results are consistent with countercyclical variation in the risk aversion of individuals.".
- catalog extent "32 p. :".
- catalog isPartOf "Working paper (Harvard Business School. Division of Research) ; 03-112.".
- catalog isPartOf "Working paper / Division of Research, Harvard Business School ; 03-112".
- catalog issued "2003".
- catalog issued "c2003.".
- catalog language "eng".
- catalog publisher "[Boston] : Division of Research, Harvard Business School,".
- catalog title "Asset allocation decisions of individuals and institutions / Randolph B. Cohen.".
- catalog type "text".