Welcome to the Academy of Financial Service’s 2019 Annual Meeting being held in Minneapolis, Minnesota in conjunction with FPA’s Annual Conference 2019. This is the full agenda for AFS. For details on FPA items, visit their Full Schedule. Please report any errors to support@academyfinancial.org.
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Wednesday, October 16 • 1:45pm - 2:45pm
F2a Is Household’s Risk Perception a determinant of a Household’s Portfolio Choices? Evidence from the 2012 Wave of Health and Retirement Study

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It is not an easy task to determine how risk averse a household is when members of the household have different levels of risk aversion (Zhang, 2017)¹. Similarly, it is unclear how risk perceptions of members of a household collectively determine the household-level risk perception. It’s argued that the risk aversion of the person with higher risk aversion in a household should be generally employed as the input into construction of an investment policy statement for a household. However, there exists few research studies which provides emperical guidance by examining the relationship between household-level risk perception and a household’s portfolio choice. This current research intends to fill this research gap. [1] In her paper, Zhang showed that a household has a decreasing relative risk aversion when two household members have different relative risk aversions.  

Author(s): Xianwu Zhang, Charlene Kalenkoski


Xianwu Zhang

Assistant Professor of Finance, John Carroll University

Wednesday October 16, 2019 1:45pm - 2:45pm CDT
201 B

Attendees (1)