{"id":"https://openalex.org/W298587997","doi":"https://doi.org/10.1017/s0022109018001151","title":"Risk Aversion in a Dynamic Asset Allocation Experiment","display_name":"Risk Aversion in a Dynamic Asset Allocation Experiment","publication_year":2018,"publication_date":"2018-09-19","ids":{"openalex":"https://openalex.org/W298587997","doi":"https://doi.org/10.1017/s0022109018001151","mag":"298587997"},"language":"en","primary_location":{"id":"doi:10.1017/s0022109018001151","doi":"https://doi.org/10.1017/s0022109018001151","is_oa":false,"landing_page_url":"https://doi.org/10.1017/s0022109018001151","pdf_url":null,"source":{"id":"https://openalex.org/S193228710","display_name":"Journal of Financial and Quantitative Analysis","issn_l":"0022-1090","issn":["0022-1090","1756-6916"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","erih-plus","fnege-1","ft50","jufo-3","norway-2","poland-140","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310311721","host_organization_name":"Cambridge University Press","host_organization_lineage":["https://openalex.org/P4310311721","https://openalex.org/P4310311702"],"host_organization_lineage_names":["Cambridge University Press","University of Cambridge"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Financial and Quantitative Analysis","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2554406","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5024078312","display_name":"Isabelle Brocas","orcid":"https://orcid.org/0000-0001-5847-1428","observed_orcids":["https://orcid.org/0000-0001-5847-1428"]},"institutions":[{"id":"https://openalex.org/I1174212","display_name":"University of Southern California","ror":"https://ror.org/03taz7m60","country_code":"US","type":"education","lineage":["https://openalex.org/I1174212"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Isabelle Brocas","raw_affiliation_strings":["University of Southern California - Department of Economics"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"University of Southern California - Department of Economics","institution_ids":["https://openalex.org/I1174212"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5003190048","display_name":"Juan D. Carrillo","orcid":"https://orcid.org/0000-0001-8616-1259","observed_orcids":["https://orcid.org/0000-0001-8616-1259"]},"institutions":[{"id":"https://openalex.org/I1174212","display_name":"University of Southern California","ror":"https://ror.org/03taz7m60","country_code":"US","type":"education","lineage":["https://openalex.org/I1174212"]},{"id":"https://openalex.org/I4210140326","display_name":"Centre for Economic Policy Research","ror":"https://ror.org/04jzmdh37","country_code":"GB","type":"nonprofit","lineage":["https://openalex.org/I4210140326"]}],"countries":["GB","US"],"is_corresponding":false,"raw_author_name":"Juan D. Carrillo","raw_affiliation_strings":["Centre for Economic Policy Research (CEPR)","University of Southern California - Department of Economics"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Centre for Economic Policy Research (CEPR)","institution_ids":["https://openalex.org/I4210140326"]},{"raw_affiliation_string":"University of Southern California - Department of Economics","institution_ids":["https://openalex.org/I1174212"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5057450790","display_name":"Aleksandar Giga","orcid":"https://orcid.org/0000-0001-5890-0552","observed_orcids":["https://orcid.org/0000-0001-5890-0552"]},"institutions":[{"id":"https://openalex.org/I1174212","display_name":"University of Southern California","ror":"https://ror.org/03taz7m60","country_code":"US","type":"education","lineage":["https://openalex.org/I1174212"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Aleksandar Giga","raw_affiliation_strings":["University of Southern California"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"University of Southern California","institution_ids":["https://openalex.org/I1174212"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5005827573","display_name":"Fernando Zapatero","orcid":"https://orcid.org/0000-0001-8158-1051","observed_orcids":["https://orcid.org/0000-0001-8158-1051"]},"institutions":[{"id":"https://openalex.org/I1174212","display_name":"University of Southern California","ror":"https://ror.org/03taz7m60","country_code":"US","type":"education","lineage":["https://openalex.org/I1174212"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Fernando Zapatero","raw_affiliation_strings":["University of Southern California - Marshall School of Business"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"University of Southern California - Marshall School of Business","institution_ids":["https://openalex.org/I1174212"]}]}],"institutions":[],"countries_distinct_count":2,"institutions_distinct_count":2,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":{"value":3550,"currency":"USD","value_usd":3550},"apc_paid":null,"fwci":1.6597,"has_fulltext":false,"cited_by_count":30,"citation_normalized_percentile":{"value":0.82465589,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":{"min":89,"max":99},"biblio":{"volume":"54","issue":"5","first_page":"2209","last_page":"2232"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10315","display_name":"Decision-Making and Behavioral Economics","score":0.9434000253677368,"subfield":{"id":"https://openalex.org/subfields/1800","display_name":"General Decision Sciences"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10315","display_name":"Decision-Making and Behavioral Economics","score":0.9434000253677368,"subfield":{"id":"https://openalex.org/subfields/1800","display_name":"General Decision Sciences"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10646","display_name":"Experimental Behavioral Economics Studies","score":0.033799998462200165,"subfield":{"id":"https://openalex.org/subfields/3311","display_name":"Safety Research"},"field":{"id":"https://openalex.org/fields/33","display_name":"Social Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10517","display_name":"Financial Literacy, Pension, Retirement Analysis","score":0.011300000362098217,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/risk-aversion","display_name":"risk aversion","score":0.9860000014305115},{"id":"https://openalex.org/keywords/dynamic-asset-allocation","display_name":"dynamic asset allocation","score":0.8550000190734863},{"id":"https://openalex.org/keywords/portfolio-optimization","display_name":"portfolio optimization","score":0.7229999899864197},{"id":"https://openalex.org/keywords/hyperbolic-absolute-risk-aversion","display_name":"hyperbolic absolute risk aversion","score":0.9369999766349792},{"id":"https://openalex.org/keywords/decreasing-absolute-risk-aversion","display_name":"decreasing absolute risk aversion","score":0.8930000066757202},{"id":"https://openalex.org/keywords/risk-profile","display_name":"risk profile","score":0.40799999237060547}],"concepts":[{"id":"https://openalex.org/C129915516","wikidata":"https://www.wikidata.org/wiki/Q17083550","display_name":"Risk aversion (psychology)","level":3,"score":0.6699044704437256},{"id":"https://openalex.org/C139819358","wikidata":"https://www.wikidata.org/wiki/Q462748","display_name":"Asset allocation","level":3,"score":0.636568009853363},{"id":"https://openalex.org/C205706631","wikidata":"https://www.wikidata.org/wiki/Q2319304","display_name":"Expected utility hypothesis","level":2,"score":0.6282463669776917},{"id":"https://openalex.org/C2780821815","wikidata":"https://www.wikidata.org/wiki/Q5340806","display_name":"Portfolio","level":2,"score":0.6261054277420044},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.5688085556030273},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.555382490158081},{"id":"https://openalex.org/C76178495","wikidata":"https://www.wikidata.org/wiki/Q4808784","display_name":"Asset (computer security)","level":2,"score":0.4720005989074707},{"id":"https://openalex.org/C63479239","wikidata":"https://www.wikidata.org/wiki/Q7353546","display_name":"Robustness (evolution)","level":3,"score":0.43114349246025085},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.3430214524269104},{"id":"https://openalex.org/C162118730","wikidata":"https://www.wikidata.org/wiki/Q1128453","display_name":"Actuarial science","level":1,"score":0.32444462180137634},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.18983054161071777},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.12102219462394714},{"id":"https://openalex.org/C104317684","wikidata":"https://www.wikidata.org/wiki/Q7187","display_name":"Gene","level":2,"score":0.0},{"id":"https://openalex.org/C55493867","wikidata":"https://www.wikidata.org/wiki/Q7094","display_name":"Biochemistry","level":1,"score":0.0},{"id":"https://openalex.org/C185592680","wikidata":"https://www.wikidata.org/wiki/Q2329","display_name":"Chemistry","level":0,"score":0.0},{"id":"https://openalex.org/C38652104","wikidata":"https://www.wikidata.org/wiki/Q3510521","display_name":"Computer security","level":1,"score":0.0}],"mesh":[],"locations_count":5,"locations":[{"id":"doi:10.1017/s0022109018001151","doi":"https://doi.org/10.1017/s0022109018001151","is_oa":false,"landing_page_url":"https://doi.org/10.1017/s0022109018001151","pdf_url":null,"source":{"id":"https://openalex.org/S193228710","display_name":"Journal of Financial and Quantitative Analysis","issn_l":"0022-1090","issn":["0022-1090","1756-6916"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","erih-plus","fnege-1","ft50","jufo-3","norway-2","poland-140","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310311721","host_organization_name":"Cambridge University Press","host_organization_lineage":["https://openalex.org/P4310311721","https://openalex.org/P4310311702"],"host_organization_lineage_names":["Cambridge University Press","University of Cambridge"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Financial and Quantitative Analysis","raw_type":"journal-article"},{"id":"mag:298587997","doi":null,"is_oa":true,"landing_page_url":"https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2554406","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"SSRN Electronic Journal","raw_type":null},{"id":"mag:3122309693","doi":null,"is_oa":false,"landing_page_url":"https://econpapers.repec.org/paper/cprceprdp/10332.htm","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"RePEc: Research Papers in Economics","raw_type":null},{"id":"pmh:oai:RePEc:cpr:ceprdp:10332","doi":null,"is_oa":false,"landing_page_url":"http://www.cepr.org/active/publications/discussion_papers/dp.php?dpno=10332","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"preprint"},{"id":"pmh:oai:RePEc:cup:jfinqa:v:54:y:2019:i:05:p:2209-2232_00","doi":null,"is_oa":false,"landing_page_url":"https://www.cambridge.org/core/product/identifier/S0022109018001151/type/journal_article","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"}],"best_oa_location":{"id":"mag:298587997","doi":null,"is_oa":true,"landing_page_url":"https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2554406","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"SSRN Electronic Journal","raw_type":null},"sustainable_development_goals":[],"sustainable_development_goals_aurora":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":56,"referenced_works":["https://openalex.org/W115555935","https://openalex.org/W1501279792","https://openalex.org/W1545175086","https://openalex.org/W1565295770","https://openalex.org/W1574786337","https://openalex.org/W1603633919","https://openalex.org/W1963901383","https://openalex.org/W1969173724","https://openalex.org/W1973488809","https://openalex.org/W1992558505","https://openalex.org/W1997345593","https://openalex.org/W2005158847","https://openalex.org/W2017139081","https://openalex.org/W2017975991","https://openalex.org/W2020558716","https://openalex.org/W2021278244","https://openalex.org/W2021407195","https://openalex.org/W2025611071","https://openalex.org/W2028053779","https://openalex.org/W2029350946","https://openalex.org/W2061371720","https://openalex.org/W2064021143","https://openalex.org/W2067927852","https://openalex.org/W2070284244","https://openalex.org/W2087991264","https://openalex.org/W2090220594","https://openalex.org/W2096193633","https://openalex.org/W2097969668","https://openalex.org/W2101730044","https://openalex.org/W2101955284","https://openalex.org/W2107288796","https://openalex.org/W2113827769","https://openalex.org/W2137151526","https://openalex.org/W2165553550","https://openalex.org/W2283925514","https://openalex.org/W2344353131","https://openalex.org/W2480934990","https://openalex.org/W2611348919","https://openalex.org/W2766958469","https://openalex.org/W2891159187","https://openalex.org/W3011865677","https://openalex.org/W3020904314","https://openalex.org/W3121969482","https://openalex.org/W3122505595","https://openalex.org/W3122801758","https://openalex.org/W3122840724","https://openalex.org/W3123419266","https://openalex.org/W3123554691","https://openalex.org/W3123756046","https://openalex.org/W3125353710","https://openalex.org/W3125469568","https://openalex.org/W3126126759","https://openalex.org/W4231282061","https://openalex.org/W4240676976","https://openalex.org/W4403172703","https://openalex.org/W6632449178"],"related_works":["https://openalex.org/W6926763080","https://openalex.org/W7074745675","https://openalex.org/W2064021143","https://openalex.org/W2056858714","https://openalex.org/W4405889209","https://openalex.org/W2480934990","https://openalex.org/W2057799191","https://openalex.org/W7074740855","https://openalex.org/W2093432732","https://openalex.org/W2097193666"],"abstract_inverted_index":{"We":[0,69],"conduct":[1],"a":[2,21,79,88],"controlled":[3],"laboratory":[4],"experiment":[5],"in":[6,12],"the":[7,27,42,47,66,82,92],"spirit":[8],"of":[9,30,50,74,95],"Merton":[10],"(1971),":[11],"which":[13],"subjects":[14],"dynamically":[15],"choose":[16],"their":[17],"portfolio":[18],"allocation":[19,29],"between":[20],"risk-free":[22],"and":[23,60],"risky":[24],"asset.":[25],"Using":[26],"optimal":[28],"an":[31],"investor":[32],"with":[33],"hyperbolic":[34],"absolute":[35,57],"risk":[36,48,58,63,76,85,96],"aversion":[37,59,64],"(HARA)":[38],"utility,":[39],"we":[40],"fit":[41],"experimental":[43],"choices":[44],"to":[45],"characterize":[46],"profile":[49,90],"our":[51],"participants.":[52],"Despite":[53],"substantial":[54],"heterogeneity,":[55],"decreasing":[56],"increasing":[61],"relative":[62],"are":[65],"predominant":[67],"types.":[68],"also":[70],"find":[71],"some":[72],"evidence":[73],"increased":[75],"taking":[77],"after":[78],"gain.":[80],"Finally,":[81],"session":[83],"level":[84],"attitudes":[86],"show":[87],"different":[89],"than":[91],"individual":[93],"descriptions":[94],"attitudes.":[97]},"counts_by_year":[{"year":2026,"cited_by_count":3},{"year":2025,"cited_by_count":4},{"year":2024,"cited_by_count":8},{"year":2023,"cited_by_count":3},{"year":2022,"cited_by_count":3},{"year":2021,"cited_by_count":3},{"year":2020,"cited_by_count":2},{"year":2019,"cited_by_count":2},{"year":2018,"cited_by_count":1},{"year":2015,"cited_by_count":1}],"updated_date":"2026-10-16T09:59:22.235173","created_date":"2016-06-24T00:00:00"}
