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The 1/N Heuristic in 401(K) Plans
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The 1/N Heuristic in 401(K) Plans (2004)The 1/N Heuristic in 401(K) PlansRegulation for Conservatives: Behavioral Economics and the Case for "Asymmetric Paternalism" (2003)Regulation for Conservatives:…Regulation for Conservatives: Behavioral Economics and the Case for "Asymmetric Paternalism" \n (2003)Regulation for Conservatives:…Portfolio Choice and Trading in a Large 401(k) Plan (2003)Portfolio Choice and Trading …Maps of Bounded Rationality: Psychology for Behavioral Economics (2003)Maps of Bounded Rationality: …Investor psychology in capital markets: evidence and policy implications (2002)Investor psychology in capita…Naive Diversification Strategies in Defined Contribution Saving Plans (2001)Naive Diversification Strateg…When choice is demotivating: Can one desire too much of a good thing? 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(2003)Psychology and Economics: Evidence from the Field (2009)Understanding Customer Experience Throughout the Customer Journey (2016)EFFICIENT CAPITAL MARKETS: A REVIEW OF THEORY AND EMPIRICAL WORK* (1970)THE VALUATION OF RISK ASSETS AND THE SELECTION OF RISKY INVESTMENTS IN STOCK PORTFOLIOS AND CAPITAL BUDGETS**This paper is another in a series of interrelated theoretical and statistical studies of corporate financial and investment policies being made under grants from the Rockefeller Foundation, and more recently the Ford Foundation, to the Harvard Business School. The generous support for this work is most gratefully acknowledged. The author is also much indebted to his colleagues Professors Bishop, Christenson, Kahr, Raiffa, and (especially) Schlaifer, for extensive discussion and commentary on an earlier draft of this paper; but responsibility for any errors or imperfections remains strictly his own.[Professor Sharpe's paper, “Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk” (Journal of Finance, September 1964) appeared after this paper was in final form and on its way to the printers. My first section, which parallels the first half of his paper (with corresponding conclusions), sets the algebraic framework for sections II, III and VI, (which have no counterpart in his paper) and for section IV on the equilibrium prices of risk assets, concerning which our results differ significantly for reasons which will be explored elsewhere. Sharpe does not take up the capital budgeting problem developed in section V below.] (1975)Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)Common risk factors in the returns on stocks and bonds (1993)Risk, Return, and Equilibrium: Empirical Tests (1973)The arbitrage theory of capital asset pricing (1976)The Cross-Section of Expected Stock Returns (1992)Personal Religious Orientation and Prejudice. (1967)Increasing Returns and Long-Run Growth (1986)A Tutorial on Bayesian Optimization of Expensive Cost Functions, with Application to Active User Modeling and Hierarchical Reinforcement Learning (2010)Representativeness Revisited: Attribute Substitution in Intuitive Judgment (2002)
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References

  • 1964CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK*20,205 cited
  • 1957Rank Correlation Methods.6,428 cited
  • 2003Maps of Bounded Rationality: Psychology for Behavioral Economics5,374 cited
  • 1966Equilibrium in a Capital Asset Market5,065 cited
  • 1988RATIONAL CHOICE AND THE FRAMING OF DECISIONS3,712 cited
  • 1986Rational Choice and the Framing of Decisions3,624 cited
  • 1972Capital Market Equilibrium with Restricted Borrowing3,097 cited
  • 2000When choice is demotivating: Can one desire too much of a good thing?2,564 cited
  • 1965SECURITY PRICES, RISK, AND MAXIMAL GAINS FROM DIVERSIFICATION*2,500 cited
  • 2001Naive Diversification Strategies in Defined Contribution Saving Plans1,538 cited
  • 2003Regulation for Conservatives: Behavioral Economics and the Case for "Asymmetric Paternalism"1,173 cited
  • 2003Regulation for Conservatives: Behavioral Economics and the Case for "Asymmetric Paternalism" \n1,105 cited
  • 2003Portfolio Choice and Trading in a Large 401(k) Plan777 cited
  • 2002Investor psychology in capital markets: evidence and policy implications761 cited
  • 1990The Effect of Purchase Quantity and Timing on Variety-Seeking Behavior

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  • 2000How Do Household Portfolio Shares Vary with Age573 cited
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