Household Finance最新文献

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Effects of Overconfidence on Asset Holdings among Older Adults 过度自信对老年人资产持有的影响
Household Finance Pub Date : 2018-09-21 DOI: 10.2139/ssrn.3253215
S. Shin, Andrew S. Hanks
{"title":"Effects of Overconfidence on Asset Holdings among Older Adults","authors":"S. Shin, Andrew S. Hanks","doi":"10.2139/ssrn.3253215","DOIUrl":"https://doi.org/10.2139/ssrn.3253215","url":null,"abstract":"Research in psychology shows that people miscalibrate their ability and often incorrectly perceive themselves as above (overconfident) or below average. Previous measures that proxy for overconfidence focus on perceptions about knowledge pertaining to economic conditions and financial markets since the researchers usually study economic and financial decisions. Our objective is to contribute to this literature by considering a more general proxy of overconfidence. We do so by operationalizing measures of subjective and objective cognitive ability in the Health and Retirement Study to estimate a proxy for overconfidence. This proxy is the residual variation of subjective cognition unexplained by an objective cognitive score and covariates. We find that higher overconfidence leads to a lower chance of an individual having financial assets in nearly all accounts, such as cash-equivalent, stocks, CDs, and savings in various retirement accounts including defined benefits, defined contribution, and individual retirement accounts. Moreover, conditional on ownership, higher confidence leads to a decrease in financial holdings in cash-equivalent assets and thus in total financial assets. Conditional on ownership, more overconfidence leads to an increase in the share of wealth held in less actively managed accounts, such as cash-equivalent, CDs, DB, and other financial assets.","PeriodicalId":383206,"journal":{"name":"Household Finance","volume":"30 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-09-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129145306","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Risk Management 风险管理
Household Finance Pub Date : 1900-01-01 DOI: 10.1007/978-981-15-5526-8_8
S. Agarwal, Wenlan Qian, R. Tan
{"title":"Risk Management","authors":"S. Agarwal, Wenlan Qian, R. Tan","doi":"10.1007/978-981-15-5526-8_8","DOIUrl":"https://doi.org/10.1007/978-981-15-5526-8_8","url":null,"abstract":"","PeriodicalId":383206,"journal":{"name":"Household Finance","volume":"51 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122458099","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Saving 储蓄
Household Finance Pub Date : 1900-01-01 DOI: 10.1007/978-981-15-5526-8_2
S. Agarwal, Wenlan Qian, R. Tan
{"title":"Saving","authors":"S. Agarwal, Wenlan Qian, R. Tan","doi":"10.1007/978-981-15-5526-8_2","DOIUrl":"https://doi.org/10.1007/978-981-15-5526-8_2","url":null,"abstract":"","PeriodicalId":383206,"journal":{"name":"Household Finance","volume":"36 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129604087","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Investment 投资
Household Finance Pub Date : 1900-01-01 DOI: 10.1007/978-981-15-5526-8_4
Sumit Agarwal, Wenlan Qian, R. Tan
{"title":"Investment","authors":"Sumit Agarwal, Wenlan Qian, R. Tan","doi":"10.1007/978-981-15-5526-8_4","DOIUrl":"https://doi.org/10.1007/978-981-15-5526-8_4","url":null,"abstract":"","PeriodicalId":383206,"journal":{"name":"Household Finance","volume":"49 5 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126692361","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Borrowing 借款
Household Finance Pub Date : 1900-01-01 DOI: 10.1007/978-981-15-5526-8_7
S. Agarwal, Wenlan Qian, R. Tan
{"title":"Borrowing","authors":"S. Agarwal, Wenlan Qian, R. Tan","doi":"10.1007/978-981-15-5526-8_7","DOIUrl":"https://doi.org/10.1007/978-981-15-5526-8_7","url":null,"abstract":"","PeriodicalId":383206,"journal":{"name":"Household Finance","volume":"4 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132681490","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
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