Index portfolio and welfare analysis under heterogeneous beliefs
Sign Up to like & getrecommendations! Published in 2017 at "Journal of Banking and Finance"
DOI: 10.1016/j.jbankfin.2016.11.001
Abstract: With a growing popularity of index funds, we adopt a differences-in-opinion, general equilibrium framework to examine theoretically whether investors are better off with an index portfolio than active investing. In contrary to the conventional view,… read more here.
Keywords: index portfolio; index; portfolio welfare; welfare analysis ... See more keywords
Individual welfare analysis for collective households
Sign Up to like & getrecommendations! Published in 2018 at "Journal of Public Economics"
DOI: 10.1016/j.jpubeco.2018.08.012
Abstract: We propose novel tools for the analysis of individual welfare on the basis of aggregate household demand behavior. The method assumes a collective model of household consumption with the public and private nature of goods… read more here.
Keywords: analysis collective; welfare analysis; individual welfare; collective households ... See more keywords