Risk Aversion and Wealth: Evidence from Person-to-Person Lending Portfolios
نویسندگان
چکیده
منابع مشابه
Risk Aversion and Wealth: Evidence from Person-to-Person Lending Portfolios
We estimate risk aversion from the actual financial decisions of 2,168 investors in a person-toperson lending platform. We develop a method to estimate a risk aversion parameter from each portfolio choice. Since the same individuals invest repeatedly, we construct a panel dataset that we use to disentangle heterogeneity in attitudes towards risk across investors, from the elasticity of risk ave...
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Person-to-person lending (P2PL) on the Internet is a relatively new credit market. The success of these markets hinges on their ability to provide both borrowers and lenders the chance to improve on the opportunities available in traditional intermediated credit markets. In essence, P2PL must create a more competitive market. Empirical observations provide evidence that frictions exist in these...
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ژورنال
عنوان ژورنال: Management Science
سال: 2017
ISSN: 0025-1909,1526-5501
DOI: 10.1287/mnsc.2015.2317