INDIVIDUAL INVESTOR RISK AVERSION AND INVESTMENT PORTFOLIO COMPOSITION

Authors

  • Richard A. Cohn,

  • Wilbur G. Lewellen,

  • Ronald C. Lease,

  • Gary G. Schlarbaum

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    • Massachusetts Institute of Technology, Purdue University, The University of Utah, and Purdue University, respectively.

      The authors wish to express their appreciation to the National Bureau of Economic Research, the Investment Company Institute, the Purdue Research Foundation, and to the brokerage firm referred to in the text for research support. Computations were performed at Purdue and at the University of Utah. While this study is part of an NBER project, that organization has not reviewed the results, and this paper should not be regarded as an official NBER publication.


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