Financial Advice and Individual Investors' Portfolios

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Z Bodie, 2005, Investments

Z Bodie, 1992, Labor Supply Flexibility and Portfolio Choice in a Life-Cycle Model, Journal of Economic Dynamics and Control, 16, 427, 10.1016/0165-1889(92)90044-f

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P Bolton, 2007, Conflicts of Interest, Information Provision, and Competition in the Financial Services Industry, Journal of Financial Economics, 85, 199, 10.1016/j.jfineco.2005.06.004

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J Y Campbell, 2006, Household Finance, Journal of Finance, 61, 1553, 10.1111/j.1540-6261.2006.00883.x

J Y Campbell, 1999, By Force and Habit: A Consumption-Based Explanation of Aggregate Stock Market Behavior, Journal of Political Economy, 107, 205, 10.1086/250059

J Y Campbell, 2002, Strategic Asset Allocation -Portfolio Choice for LongTerm Investors, 10.1093/0198296940.001.0001

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J D Coval, 1999, Home Bias at Home: Local Equity Preference in Domestic Portfolios, Journal of Finance, 54, 2045, 10.1111/0022-1082.00181

2004, Faszination Wertpapier: Fakten und Hintergr�nde zum Anlegerverhalten in Deutschland, DABBANK

P O Dietz, 1968, Components of a Measurement Model: Rate of Return, Risk, and Timing, Journal of Finance, 23, 267, 10.1111/j.1540-6261.1968.tb00802.x

G Ellison, 2006, Bounded Rationality in Industrial Organization, Advances in Economics and Econometrics: Theory and Applications, (Ed., R. Blundell), 9th World Congress of the Econometric Society, 10.1017/cbo9781139052276.007

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L Guiso, 2003, Household Stockholding in Europe: Where Do We Stand and Where Do We Go, Economic Policy, 18, 125, 10.1111/1468-0327.00104

J Heaton, 2000, Portfolio Choice in the Presence of Background Risk, Economic Journal, 110, 1, 10.1111/1468-0297.00488

J J Heckman, 1979, Sample Selection Bias as a Specification Error, Econometrica, 47, 153, 10.2307/1912352

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P Jorion, 2003, Portfolio Optimization with Tracking-Error Constraints, Financial Analysts Journal, 59, 83, 10.2469/faj.v59.n5.2565

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D Kahneman, 1979, Prospect Theory: An Analysis of Decisions Under Risk, 47, 263, 10.2307/1914185

I Karatzas, 1998, Methods of Mathematical Finance, 10.1007/b98840

A Khorana, 2007, Mutual Fund Fees Around the World, Working Paper, 10.1093/rfs/hhn042

L J Kotlikoff, 2001, Can People Compute? An Experimental Test of the Life-Cycle Consumption Model, Essays on Saving, Bequests, Alt-Ruism, and Life-Cycle Planning

M Krausz, 2002, Financial Advising in the Presence of Conflicts of Interest, Journal of Economics and Business, 54, 55, 10.1016/s0148-6195(01)00057-1

H E Leland, 1977, Informational Asymmetries, Financial Structure, and Financial Intermediation, 32, 371, 10.2307/2326770

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K.-L L�fgren, 2002, Markets with Asymmetric Information: The Contributions of Gerorge Ackerlof, Scandinavian Journal of Economics, 104, 195, 10.1111/1467-9442.00280

H M Markowitz, 1952, Portfolio Selection, Journal of Finance, 7, 77, 10.1111/j.1540-6261.1952.tb01525.x

J J Mccall, 1970, Economics of Information and Job Search, 84, 113, 10.2307/1879403

R C Merton, 1969, Lifetime Portfolio Selection under Uncertainty: The Continuous Time Case, Review of Economics and Statistics, 51, 247, 10.2307/1926560

A Metrick, 1999, Performance Evaluation with Transactions Data: The Stock Selection of Investment Newsletters, Journal of Finance, 54, 1743, 10.1111/0022-1082.00165

T Odean, 1999, Do Investors Trade Too Much, American Economic Review, 89, 1278, 10.1257/aer.89.5.1279

M Ottaviani, 2000, The Economics of Advice

R Roll, 1977, A Critique of the Asset Pricing Theory's Tests -Part I: On Past and Potential Testability of the Theory, Journal of Financial Economics, 4, 129, 10.1016/0304-405x(77)90009-5

L J Savage, 1954, The Foundations of Statistics, 10.1002/nav.3800010316

Z Shapira, 2001, Patterns of Behavior of Professionally Managed and Independent Investors, Journal of Banking and Finance, 25, 1573, 10.1016/s0378-4266(00)00139-4

W Sharpe, 1966, Mutual Fund Performance, Journal of Business, 39, 119, 10.1086/294846

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J Tobin, 1958, Liquidity Preference as Behavior Towards Risk, Review of Economic Studies, 25, 65, 10.2307/2296205

H R Varian, 2000, Working Paper, Monetary Policy in a World of Knowledge-Based Growth, Quality Change, and Uncertain Measurement Conference Proceedings

A Vissing-Jorgensen, 2003, Perspectives on Behavioral Finance: Does "Irrationality" Disappear with Wealth? Evidence from Expectations and Actions, 18, 139, 10.1086/ma.18.3585252