Understanding Trading Behavior in 401(K) Plans

Understanding Trading Behavior in 401(k) Plans

We use a new database covering 1.2 million active participants to study trading activities in 1,530 defined contribution retirement plans. Descriptive statistics and regression analysis indicate some interesting trading patterns. First, we show that trading activity in 401(k) accounts is very limited: only 20% of participants ever reshuffled their portfolios in two years. Second, demographic ch...

The Adequacy of Investment Choices Offered By 401K Plans

Defined-contribution plans represent a major organizational form for investors’ retirement savings. Today more than one third of all workers are enrolled in 401K plans. In a 401K plan, participants select assets from a set of choices designated by an employer. For over half of 401K-plan participants, retirement savings represent their sole financial asset. Yet to date there has been no study of...

Understanding Distinct Count in DAX Query Plans

Does Mood Affect Trading Behavior ? *

The assumption that mood affects investors’ behavior in the field is gaining acceptance due to experimental studies and papers linking stock returns with environmental variables, such as weather and length of day. To identify mood effects this paper utilizes account level stock trading data from all investors in Finland, a country with significant variation in weather and length of day. While s...

1 Plans and Behavior in Intelligent Agents

An "intelligent agent" is a versatile and adaptive computer system. It performs diverse cognitive and physical behaviors in its efforts to achieve multiple goals in a dynamic, uncertain task environment. In this paper, we address the question: How should plans influence the cognitive and physical behavior of intelligent agents? In contrast to the well-known model of plans as executable programs...