Saving for Retirement: The Effects of Fund Assortment Size and Investor Knowledge on Asset Allocation Strategies.
Journal of Consumer Affairs 2008, Summer, 42, 2
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- 5,99 лв.
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- 5,99 лв.
Publisher Description
We report the results of a decision simulation conducted among 211 adults whose task was to invest in a 401(k) retirement plan. We varied the number of mutual funds (three vs. twenty-one) offered for investment and assessed investing knowledge with a self-report measure. The results indicate that less knowledgeable (but not more knowledgeable) investors change their asset allocation strategies as a function of fund assortment size, such that a significantly higher proportion of dollars invested by the less knowledgeable investors is allocated to stocks when choosing from the larger assortment. **********
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