2006–2010

Genetic Variation in Financial Decision-Making

Särtryck nr 2010:25

Författare: David Cesarini, Magnus Johannesson, Paul Lichtenstein, Örjan Sandewall och Björn WallaceÅr: 2010 Publikation: Journal of Finance Årgång (nr): 65 (5) Sidor: 1725–1754
Artikeln online (behörighet kan krävas)


Individuals differ in how they construct their investment portfolios, yet empirical models of portfolio risk typically account only for a small portion of the cross-sectional variance. This paper asks whether genetic variation can explain some of these individual differences. Following a major pension reform Swedish adults had to form a portfolio from a large menu of funds. We match data on these investment decisions with the Swedish Twin Registry and find that approximately 25% of individual variation in portfolio risk is due to genetic variation. We also find that these results extend to several other aspects of financial decision-making.


Referens:
Cesarini, David, Magnus Johannesson, Paul Lichtenstein, Örjan Sandewall och Björn Wallace (2010), "Genetic Variation in Financial Decision-Making". Journal of Finance 65(5), 1725–1754.

Aktuell forskare

Assar Lindbeck

Forskningsområden: Inkomstförsäkringar, bonussystem samt metodfrågor.

Några av de frågor Assar Lindbeck försöker besvara i sin forskning:

  • Hur påverkas inkomstförsäkringar av sociala normer?
  • Fordrar en valutaunion en fiskal union?

IFN kalendarium

Institutet för Näringslivsforskning, Grevgatan 34 - 2 tr, Box 55665, SE-102 15 Stockholm, Sweden | Tel: +46-(0)8-665 45 00 | info@ifn.se