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Expected Equity Returns and Portfolio Choice: Evidence from the Health and Retirement Study
12 references·16 citing·48 second hop
Expected Equity Returns and Portfolio Choice: Evidence from the Health and Retirement Study (2007)Expected Equity Returns and Portfolio Cho…Financial Literacy and Planning: Implications for Retirement Wellbeing (2011)Financial Literacy and Planni…Measuring Expectations (2004)Measuring ExpectationsHow Should We Measure Consumer Confidence? (2004)How Should We Measure Consume…Do Democracies Have Different Public Policies than Nondemocracies? (2004)Do Democracies Have Different…Boys will be Boys: Gender, Overconfidence, and Common Stock Investment (2001)Boys will be Boys: Gender, Ov…Verbal and Numerical Expressions of Probability: “It's a Fifty–Fifty Chance” (2000)Verbal and Numerical Expressi…How Do Household Portfolio Shares Vary with Age (2000)How Do Household Portfolio Sh…Why do so Few Hold Stocks? (1995)Why do so Few Hold Stocks?An Asset Allocation Puzzle (1994)An Asset Allocation PuzzleLIFETIME PORTFOLIO SELECTION BY DYNAMIC STOCHASTIC PROGRAMMING (1975)LIFETIME PORTFOLIO SELECTION …Lifetime Portfolio Selection under Uncertainty: The Continuous-Time Case (1969)Lifetime Portfolio Selection …Lifetime Portfolio Selection By Dynamic Stochastic Programming (1969)Lifetime Portfolio Selection …Insurance and portfolio decisions: Two sides of the same coin? (2023)Insurance and portfolio decis…What drives stock market participation? The role of institutional, traditional, and behavioral factors (2022)What drives stock market part…Who Wears the Pants? Gender Identity Norms and Intrahousehold Financial Decision‐Making (2021)Who Wears the Pants? 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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)Variable Selection for Portfolio Choice (2001)Dynamic Asset Allocation under Inflation (2002)Time Horizon, Costs of Equity Capital, and Generic Investment Strategies of Firms (2007)Status quo bias in decision making (1988)Owner-Occupied Housing and the Composition of the Household Portfolio (2002)Stock return predictability and model uncertainty (2002)Perspectives on Behavioral Finance: Does "Irrationality" Disappear with Wealth? Evidence from Expectations and Actions (2003)The Econometrics of Financial Markets (2012)Aspects of the Theory of Risk-Bearing. (1966)Optimum consumption and portfolio rules in a continuous-time model (1971)An Intertemporal Capital Asset Pricing Model (1973)Risk Aversion in the Small and in the Large (1976)Predicting Excess Stock Returns Out of Sample: Can Anything Beat the Historical Average? (2007)Portfolio Selection: Efficient Diversification of Investments (1959)Risk Aversion in the Small and in the Large (1964)A Theory of the Term Structure of Interest Rates (1985)Household Financial Management: The Connection between Knowledge and Behavior (2003)Household Finance (2006)Baby Boomer retirement security: The roles of planning, financial literacy, and housing wealth (2007)Planning and Financial Literacy: How Do Women Fare? (2008)Cognitive Ability and Portfolio Choice (2010)Financial literacy and retirement planning in the United States (2011)The Theory of Economic Regulation (1971)Law and Finance (1998)61. Capitalism and Freedom (2002)Declining inequality in Latin America: a decade of progress? (2011)Self-Enforcing Democracy (2011)Inequality and Democratization (2014)Judgment under Uncertainty: Heuristics and Biases (1975)Common risk factors in the returns on stocks and bonds (1993)On Persistence in Mutual Fund Performance (1997)All That Glitters: The Effect of Attention and News on the Buying Behavior of Individual and Institutional Investors (2007)Gender Differences in Preferences (2009)Women in the boardroom and their impact on governance and performance☆ (2009)Judgment under Uncertainty: Heuristics and Biases (1974)Belief, Attitude, Intention and Behavior: An Introduction to Theory and Research (1975)Understanding Attitudes and Predicting Social Behavior (1980)Measuring and Explaining Management Practices Across Firms and Countries (2006)The Consumption Response to Income Changes (2010)Biased perceptions of income distribution and preferences for redistribution: Evidence from a survey experiment (2012)Gender Differences in the Allocation of Assets in Retirement Savings Plans (1998)Strategic Asset Allocation (2002)Down or Out: Assessing the Welfare Costs of Household Investment Mistakes (2007)Myopic Loss Aversion and the Equity Premium Puzzle (1993)International Asset Allocation With Regime Shifts (2002)
this work references cited by second hop

References

  • 2001Boys will be Boys: Gender, Overconfidence, and Common Stock Investment5,215 cited
  • 1969Lifetime Portfolio Selection under Uncertainty: The Continuous-Time Case5,199 cited
  • 1975LIFETIME PORTFOLIO SELECTION BY DYNAMIC STOCHASTIC PROGRAMMING1,941 cited
  • 1969Lifetime Portfolio Selection By Dynamic Stochastic Programming1,692 cited
  • 2004Measuring Expectations1,433 cited
  • 2011Financial Literacy and Planning: Implications for Retirement Wellbeing1,301 cited
  • 1995Why do so Few Hold Stocks?1,078 cited
  • 2004Do Democracies Have Different Public Policies than Nondemocracies?661 cited
  • 2000How Do Household Portfolio Shares Vary with Age550 cited
  • 1994An Asset Allocation Puzzle423 cited
  • 2000Verbal and Numerical Expressions of Probability: “It's a Fifty–Fifty Chance”246 cited
  • 2004How Should We Measure Consumer Confidence?153 cited

Cited by

  • 2010Measuring and interpreting expectations of equity returns178 cited
  • 2019Genetic Endowments and Wealth Inequality154 cited
  • 2014Gender differences in optimism and asset allocation151 cited

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2018
Wealth Shocks and Health Outcomes: Evidence from Stock Market Fluctuations
132 cited
  • 2017Socioeconomic Status and Macroeconomic Expectations110 cited
  • 2010Stock market crash and expectations of American households109 cited
  • 2021Who Wears the Pants? Gender Identity Norms and Intrahousehold Financial Decision‐Making101 cited
  • 2008Eliciting Subjective Probabilities in Internet Surveys100 cited
  • 2020Exposure to the COVID-19 Stock Market Crash and Its Effect on Household Expectations91 cited
  • 2019Heterogeneity in Expectations, Risk Tolerance, and Household Stock Shares: The Attenuation Puzzle90 cited
  • 2022What drives stock market participation? The role of institutional, traditional, and behavioral factors85 cited
  • 2011Household Stock Market Beliefs and Learning68 cited
  • 2017Individual survival curves comparing subjective and observed mortality risks59 cited
  • 2015Stock market expectations and risk aversion of individual investors52 cited
  • 2020Molecular Genetics, Risk Aversion, Return Perceptions, and Stock Market Participation40 cited
  • 2023Insurance and portfolio decisions: Two sides of the same coin?39 cited