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Cited by 301

The DOI matches its Crossref record; 5 of the 5 references it cites were found in a registry or an index.

Twin Picks: Disentangling the Determinants of Risk‐Taking in Household Portfolios

CALVET, LAURENT E., SODINI, PAOLO·2014·The Journal of Finance
DOI 10.1111/jofi.12125
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Abstract

This paper investigates risk‐taking in the liquid portfolios held by a large panel of Swedish twins. We document that the portfolio share invested in risky assets is an increasing and concave function of financial wealth, leading to different risk sensitivities across investors. Human capital, which we estimate directly from individual labor income, also affects risk‐taking positively, while internal habit and expenditure commitments tend to reduce it. Our microfindings lend strong support to decreasing relative risk aversion and habit formation preferences. Furthermore, heterogeneous risk sensitivities across investors help reconcile individual preferences with representative‐agent models.

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Metadata

Authors
CALVET, L. E., & SODINI, P.
Venue
The Journal of Finance
Publisher
Wiley
Published
2014-03-17
Volume
69
Issue
2
Pages
867-906
ISSN
  • 0022-1082 (ISSN-L)
  • 1540-6261
DOI
10.1111/jofi.12125
OpenAlex
W2315386140
Cited by
301
References
5
FWCI
66.40
Type
journal article
Language
en
Open access
closed

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CoChat. (2026). Citation check: Twin Picks: Disentangling the Determinants of Risk‐Taking in Household Portfolios. https://app.cochat.ai/papers/10.1111/jofi.12125
The paper
CALVET, L. E., & SODINI, P. (2014). Twin Picks: Disentangling the Determinants of Risk‐Taking in Household Portfolios. The Journal of Finance. https://doi.org/10.1111/jofi.12125

Data sources

Bibliographic data: Semantic Scholar, OpenAlex, Crossref.

Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).

Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.