placeholder
and
and

Your email was sent successfully. Check your inbox.

An error occurred while sending the email. Please try again.

Proceed reservation?

Export
Filter
Language
Year
  • 1
    Language: English
    In: Journal of marketing research, 2011-01-01, Vol.48 (SPL), p.S23-S37
    Description: Many people fail to save what they will need for retirement. Research on excessive discounting of the future suggests that removing the lure of immediate rewards by precommitting to decisions or elaborating the value of future rewards both can make decisions more future oriented. The authors explore a third and complementary route, one that deals not with present and future rewards but with present and future selves. In line with research that shows that people may fail, because of a lack of belief or imagination, to identify with their future selves, the authors propose that allowing people to interact with age-progressed renderings of themselves will cause them to allocate more resources to the future. In four studies, participants interacted with realistic computer renderings of their future selves using immersive virtual reality hardware and interactive decision aids. In all cases, those who interacted with their virtual future selves exhibited an increased tendency to accept later monetary rewards over immediate ones.
    Subject(s): Age ; Age progression (Forensic science) ; Analytical forecasting ; Consumer behavior ; Discounting ; future self-continuity ; immersive virtual reality ; intertemporal choice ; Marketing ; Methods ; Photographs ; Research ; Retirement ; Retirement income ; Retirement planning ; Retirement saving ; Rewards ; Savings ; Self ; Self-evaluation ; Studies ; Technology application ; temporal discounting ; Usage ; Virtual avatars ; Virtual reality
    ISSN: 0022-2437
    E-ISSN: 1547-7193
    Source: Communication & Mass Media Complete
    Source: Business Source Ultimate
    Source: JSTOR Arts & Sciences VII
    Source: Alma/SFX Local Collection
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
  • 2
    Article
    Article
    2013
    ISSN: 0015-198X 
    Language: English
    In: Financial analysts journal, 2013-03-01, Vol.69 (2), p.34-41
    Description: Recent regulatory changes have brought a renewed focus on the impact of investment expenses on investors' financial well-being. The author offers methods for calculating relative terminal wealth levels for those investing in funds with different expense ratios. Under plausible conditions, a person saving for retirement who chooses low-cost investments could have a standard of living throughout retirement more than 20% higher than that of a comparable investor in high-cost investments.
    Subject(s): Arithmetic ; Cost and standard of living ; Defined contribution plans ; Economic aspects ; Fees ; Financial investments ; Gross investment ; Institutional investments ; Investment advisors ; Investment funds ; Investment return rates ; Investment returns ; Investments ; Investors ; Lump sum ; Portfolio Management ; Retirement plans ; Return on investment ; Securities markets ; Stock exchanges
    ISSN: 0015-198X
    E-ISSN: 1938-3312
    Source: International Bibliography of the Social Sciences (IBSS)
    Source: Business Source Ultimate
    Source: JSTOR Arts & Sciences VI
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
  • 3
    Article
    Article
    2010
    ISSN: 0015-198X 
    Language: English
    In: Financial analysts journal, 2010-05-01, Vol.66 (3), p.45-59
    Description: This article proposes an asset allocation policy that adapts to market movements by taking into account changes in the outstanding market values of major asset classes. Such a policy considers important information, reduces or avoids contrarian behavior, and can be followed by a majority of investors. Many institutional and individual investors adopt asset allocation policies that call for investing a specified percentage of the total value of a portfolio in each of several asset classes. To conform with such a policy as market values change requires selling assets that performed relatively well and buying those that performed relatively poorly. Such a strategy is clearly contrarian and can be followed by only a minority of investors. In practice, many investors seldom rebalance completely to conform with such a policy. But many multi-asset mutual funds, increasingly used in defined-contribution plans, do so frequently, which results in contrarian behavior. From January 1976 through June 2009, the ratio of the market value of U.S. stocks to the sum of the market values of U.S. stocks and bonds averaged 60.7 percent, close to the traditional 60/40 stock/bond mix. But during this period, the proportion in stocks ranged from slightly more than 43 percent to more than 75 percent. A fund that rebalanced its holdings frequently to a 60/40 mix would thus range from being considerably more risky than the U.S. bond and stock markets to being considerably less risky. If its goal was to represent the U.S. market of such instruments, it should instead have adjusted its asset allocation policy to reflect the relative values of the two asset classes. More generally, it seems appropriate for any fund to adapt its asset allocation policy from time to time in light of current relative market values of asset classes. This adaptation can be done by periodically conducting a reverse optimization analysis, in which current asset values are used to adjust asset risk and return forecasts, and then computing a new asset allocation by using these forecasts in an optimization analysis. This article proposes a much simpler approach in which an asset allocation policy adapts to market movements by taking into account changes in the outstanding market values of major asset classes. Such adaptive asset allocation policies consider important information, reduce or avoid contrarian behavior, and can be followed by a majority of investors.
    Subject(s): Asset allocation ; Bond markets ; Contrarian investing ; Financial bonds ; Financial investments ; Financial portfolios ; Index funds ; Institutional investments ; Investment policy ; Investment risk ; Investments ; Investors ; Laws, regulations and rules ; Management ; Methods ; PORTFOLIO MANAGEMENT ; Stock exchanges ; Stock prices
    ISSN: 0015-198X
    E-ISSN: 1938-3312
    Source: International Bibliography of the Social Sciences (IBSS)
    Source: Business Source Ultimate
    Source: JSTOR Arts & Sciences VI
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
  • 4
    Article
    Article
    2014
    ISSN: 0015-198X 
    Language: English
    In: Financial analysts journal, 2014-11-01, Vol.70 (6), p.16-22
    Description: At the 67th CFA Institute Annual Conference, held 4–7 May 2014 in Seattle, Robert Litterman interviewed William F. Sharpe to elicit his perspective on a number of investment issues, including the capital asset pricing model, asset allocation, behavioral finance, and retirement income.
    Subject(s): Asset allocation ; Capital asset pricing models ; Capital assets ; Capital assets pricing model ; CAPM ; Careers ; Conferences, meetings and seminars ; Financial advisers ; Financial investments ; Financial planners ; Financial portfolios ; Financial securities ; Forecasts and trends ; Investment risk ; Investors ; Market portfolios ; PERSPECTIVES ; Retirement benefits ; Retirement income ; Sharpe, William F ; Stock prices
    ISSN: 0015-198X
    E-ISSN: 1938-3312
    Source: International Bibliography of the Social Sciences (IBSS)
    Source: Business Source Ultimate
    Source: JSTOR Arts & Sciences VI
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
  • 5
    Language: English
    In: The Journal of consumer research, 2008-10, Vol.35 (3), p.440-456
    Description: Investing for retirement is one of the most consequential yet daunting decisions consumers face. We present a way to both aid and understand consumers as they construct preferences for retirement income. The method enables consumers to build desired probability distributions of wealth constrained by market forces and the amount invested. We collect desired wealth distributions from a sample of working adults, provide evidence of the technique’s reliability and predictive validity, characterize individual‐ and cluster‐level differences, and estimate parameters of risk aversion and loss aversion. We discuss how such an interactive method might help people construct more informed preferences.
    Subject(s): Consumer behavior ; Consumer preferences ; Consumers ; Cost allocation ; Decision making ; Financial investments ; Income estimates ; Investment products ; Investment risk ; Investors ; Loss aversion ; Research ; Retirement ; Retirement income ; Retirement planning ; Risk aversion ; Studies ; Utility functions
    ISSN: 0093-5301
    E-ISSN: 1537-5277
    Source: Communication & Mass Media Complete
    Source: Business Source Ultimate
    Source: JSTOR Arts & Sciences IV
    Source: Alma/SFX Local Collection
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
  • 6
    Article
    Article
    2007
    ISSN: 0015-198X 
    Language: English
    In: Financial analysts journal, 2007-09-01, Vol.63 (5), p.18-30
    Description: Most asset allocation analyses use the mean--variance approach for analyzing the trade-off between risk and expected return. Analysts use quadratic programming to find optimal asset mixes and the characteristics of the capital asset pricing model to determine reasonable optimization inputs. This article presents an alternative approach in which the goal of asset allocation is to maximize expected utility, where the utility function may be more complex than that associated with mean--variance analysis. Inputs for the analysis are based on the assumption of asset prices that would prevail if there were a single representative investor who desired to maximize expected utility.
    Subject(s): Analysis ; Analysis of variance ; Asset allocation ; Assets (Accounting) ; Capital assets ; Capital markets ; CAPM ; Cash ; Expected returns ; Expected utility ; Financial portfolios ; Institutional investments ; Investors ; Marginal utility ; Market portfolios ; Optimization ; Portfolio Management ; Standard deviation ; Studies ; Usage ; Utility functions ; Variance analysis
    ISSN: 0015-198X
    E-ISSN: 1938-3312
    Source: International Bibliography of the Social Sciences (IBSS)
    Source: Business Source Ultimate
    Source: JSTOR Arts & Sciences VI
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
  • 7
    Book
    Book
    2011
    ISBN: 0691138508  ISBN: 9780691128429  ISBN: 0691128421  ISBN: 9780691138503 
    Language: English
    Description: InInvestors and Markets, Nobel Prize-winning financial economist William Sharpe shows that investment professionals cannot make good portfolio choices unless they understand the determinants of asset prices. But until now asset-price analysis has largely been inaccessible to everyone except PhDs in financial economics. In this book, Sharpe changes that by setting out his state-of-the-art approach to asset pricing in a nonmathematical form that will be comprehensible to a broad range of investment professionals, including investment advisors, money managers, and financial analysts. Bridging the gap between the best financial theory and investment practice,Investors and Marketswill help investment professionals make better portfolio choices by being smarter about asset prices. Based on Sharpe's Princeton Lectures in Finance,Investors and Marketspresents a method of analyzing asset prices that accounts for the real behavior of investors. Sharpe makes this technique accessible through a new, one-of-a-kind computer program (available for free on his Web site, at http://www.stanford.edu/~wfsharpe/apsim/index.html) that enables users to create virtual markets, setting the starting conditions and then allowing trading until equilibrium is reached and trading stops. Program users can then analyze the final portfolios and asset prices, see expected returns, and measure risk. In addition to popularizing the most sophisticated form of asset-price analysis,Investors and Marketssummarizes much of Sharpe's most important previous work and reflects a lifetime of thinking about investing by one of the leading minds in financial economics. Any serious investment professional will benefit from Sharpe's unique insights.
    Subject(s): BUSINESS & ECONOMICS ; Capital asset pricing model ; Capital assets pricing model ; Finance ; General ; Investment analysis ; Investments ; Investments & Securities ; KCA ; KFFH ; KFFM ; Portfolio management ; Prices ; Securities
    ISBN: 0691138508
    ISBN: 9780691128429
    ISBN: 0691128421
    ISBN: 9780691138503
    Source: eBook Academic Collection - Worldwide
    Source: De Gruyter eBooks
    Source: eBook Subscription University Press Collection - Worldwide
    Source: Ebook Central - Academic Complete
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
  • 8
    Article
    Article
    2002
    ISSN: 0015-198X 
    Language: English
    In: Financial analysts journal, 2002-09-01, Vol.58 (5), p.74-86
    Description: This article describes a set of mean-variance procedures for setting targets for the risk characteristics of components of a pension fund portfolio and for monitoring the portfolio over time to detect significant deviations from those targets. Because of the significant correlations of the returns provided by the managers of a typical defined-benefit pension fund, the risk of the portfolio cannot be characterized as simply the sum of the risks of the individual components. Expected returns, however, can be so characterized. I show that the relationship between marginal risks and implied expected excess returns provides the economic rationale for the risk budgeting and monitoring being implemented by a number of pension funds. I then show how a fund's liabilities can be taken into account to make the analysis consistent with goals assumed in asset/liability studies. I also discuss the use of factor models and aggregation and disaggregation procedures. The article concludes with a short discussion of practical issues that should be addressed when implementing a pension fund risk-budgeting and -monitoring system.
    Subject(s): Asset allocation ; Asset management ; Budgeting ; Budgets ; Cash management ; Expected returns ; Financial budgets ; Financial institutions ; Financial investments ; Financial portfolios ; Hedge funds ; Institutional investments ; Investment advisors ; Investment risk ; Mathematical models ; Pension funds ; Portfolio management ; Rates of return ; Risk assessment ; Risk management ; Risk Measurement and Management ; Studies
    ISSN: 0015-198X
    E-ISSN: 1938-3312
    Source: International Bibliography of the Social Sciences (IBSS)
    Source: Business Source Ultimate
    Source: JSTOR Arts & Sciences VI
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
  • 9
    Article
    Article
    1998
    ISSN: 0015-198X 
    Language: English
    In: Financial analysts journal, 1998-07-01, Vol.54 (4), p.21-33
    Description: The characteristics of the "risk-adjusted rating" (RAR) on which Morningstar bases its "star ratings" and "category ratings" are analyzed, and the RAR is compared with more traditional mean-variance measures. The RAR measure has characteristics similar to those of an expected utility function based on an underlying bilinear utility function. These characteristics are of some concern because strict adherence to maximizing expected utility with such a function could lead to extreme investment strategies. This study finds that Morningstar varies one of the parameters of this function in a manner that frequently produces results similar to the results of using the excess-return Sharpe ratio. Finally, the argument is presented that neither Morningstar's measure nor the excess-return Sharpe ratio is an efficient tool for choosing mutual funds within peer groups for a multifund portfolio.
    Subject(s): Comparative studies ; Credit ratings ; Expected utility ; Financial investments ; Investment policy ; Investment risk ; Investment strategies ; Investors ; Mutual funds ; Peer groups ; Performance ; Portfolio management ; Rates of return ; Risk aversion ; Risk exposure ; Standard deviation ; United States Treasury bills ; Utility functions ; Variance analysis
    ISSN: 0015-198X
    E-ISSN: 1938-3312
    Source: International Bibliography of the Social Sciences (IBSS)
    Source: Business Source Ultimate
    Source: JSTOR Arts & Sciences VI
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
  • 10
    Article
    Article
    2012
    ISSN: 1354-7798 
    Language: English
    In: European financial management : the journal of the European Financial Management Association, 2012-06, Vol.18 (3), p.324-351
    Description: This paper uses a discrete‐time, discrete‐state Monte Carlo simulation model to evaluate representative strategies for investing and spending a fixed sum designed to fund consumption during the period after retirement. Two assets are considered – one providing a riskless real return, the other a market portfolio of bonds and stocks. A stochastic process for the returns from the market portfolio is proposed. Then a set of Arrow‐Debreu state prices is obtained on the assumption that the market portfolio is an efficient investment strategy. The model is used to forecast ranges of consumption and ranges of the ratios of year‐to‐year consumption, and also to estimate the values of components of future consumption.
    Subject(s): Arrow-Debreu state prices ; D14 ; Discrete-time model ; G11 ; G17 ; G21 ; Monte Carlo simulation ; pricing ; retirement ; Retirement planning ; Return on investment ; simulation ; Strategic management ; strategy ; Studies ; valuation
    ISSN: 1354-7798
    E-ISSN: 1468-036X
    Source: International Bibliography of the Social Sciences (IBSS)
    Source: Business Source Ultimate
    Source: Hellenic Academic Libraries Link
    Source: EconLit with Full Text
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
Close ⊗
This website uses cookies and the analysis tool Matomo. More information can be found here...