Welcome to the 2018 AFS Annual Meeting, being held this year, in conjunction with FPA in Chicago!
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Tuesday, October 2 • 11:30am - 12:20pm
D2b - Peer Effects, Personal Characteristics and Asset Allocation

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We study the relative importance of social factors (including household, workplace, and neighborhood peer effects) and personal characteristics (including age, gender, tax rates, and funds under management) for asset allocation decisions. The most important factors (in order) are household peer effects, personal characteristics and workplace peer effects. Neighborhood peer effects and financial advice play a less important role. We use instrumental variables for both household and workplace peer effects and find results that are consistent with causal peer effects.

Author(s): Jasmine Fang, Annie Zhang, Ben Jacobsen, Ben Marshall


Jiali (Jasmine) Fang

Senior Lecturer, Massey University

Tuesday October 2, 2018 11:30am - 12:20pm CDT
Michigan 1B

Attendees (2)