Overconfidence, Financial Advice Seeking and Household Portfolio Under-Diversification

This paper examines the relationship between overconfidence and losses from under-diversification among Dutch investors. We find that a lack of proper portfolio diversification is positively associated with overconfidence. Part of this relationship is mediated through the lower propensity of overconfident individuals to hire a professional financial adviser. We use data from the 2005 wave of the DNB Dutch Household Survey that provides us with detailed portfolio data of 257 investors. We proxy for overconfidence by exploiting the difference between measured and self-assessed financial literacy, and use this proxy in a regression model (with and without mediation) to explain the difference between the actual households return and the return that could have been obtained by selecting a portfolio on the efficient frontier with equivalent risk. Our results contribute to the current discussion among policy makers on the role of financial advice and self-perceptions in household financial decision-making

New Non-Diagonal Singularity-Free Cosmological Perfect-Fluid Solution

We present a new non-diagonal G2 inhomogeneous perfect-fluid solution with barotropic equation of state p=rho and positive density everywhere. It satisfies the global hyperbolicity condition and has no curvature singularity anywhere. This solution is very simple in form and has two arbitrary constants.Comment: Latex, no figure

The New Jewish Community, New Jewish Schools: Trends and Promises

While representing a small percentage of all private, religious schools, Jewish schools are nonetheless a significant presence on the religious landscape. This article analyzes the rapid growth of Jewish schools over the past three decades and examines possible future directions for Jewish schools

Planning versus action: Different decision-making processes predict plans to change one’s diet versus actual dietary behavior

Most health decision-making models posit that deciding to engage in a health behavior involves forming a behavioral intention which then leads to actual behavior. However, behavioral intentions and actual behavior may not be functionally equivalent. Two studies examined whether decision-making factors predicting dietary behaviors were the same as or distinct from those predicting intentions. Actual dietary behavior was proximally predicted by affective associations with the behavior. By contrast, behavioral intentions were predicted by cognitive beliefs about behaviors, with no contribution of affective associations. This dissociation has implications for understanding individual regulation of health behaviors and for behavior change interventions

The Social Ecosystem Dilemma? -- And How to Fix It

An estimated $12 trillion in market opportunities are embedded within the Sustainable Development Goals. Companies can unlock these opportunities with shared value, addressing social challenges in ways that improve a business' competitive positioning and profitability. But long-entrenched social and environmental problems often thwart shared value strategies. While executives know how to manage their corporate ecosystem of suppliers, distributors, and related businesses, those approaches do not work for the social ecosystem of governments, NGOs, and local communities. This guide outlines concrete and actionable steps for companies to build shared value ecosystems, based on insights from 12 companies across industries from around the world

Beleggingsadvies en de prestaties van particuliere beleggers

In dit artikel wordt een aanzet gedaan om de toegevoegde waarde van beleggingsadviseurs vanuit het perspectief van particuliere beleggers te onderzoeken. Hiertoe worden prestaties van geadviseerde en zelfstandige beleggers met elkaar vergeleken. Hoewel er grote verschillen in portefeuille- en beleggerskarakteristieken tussen beide groepen bestaan, wordt er geen significant verschil in risicogecorrigeerd rendement gevonden. Wel zijn geadviseerde portefeuilles beter gediversifieerd, waardoor er minder niet-systematisch risico in de portefeuille van geadviseerde beleggers aanwezig is