Do Wealth Fluctuations Generate Time-Varying Risk Aversion? Micro-Evidence on Individuals' Asset Allocation

The American Economic Review

2012 • 7,538 citations

Instrumental Variables Regression with Weak Instruments

1997 • 6,543 citations

Testing for Weak Instruments in Linear IV Regression

2005 • 6,030 citations

Status quo bias in decision making

1988 • 5,456 citations

By Force of Habit: A Consumption‐Based Explanation of Aggregate Stock Market Behavior

1999 • 5,300 citations

Are Investors Reluctant to Realize Their Losses?

1998 • 3,653 citations

Preference Parameters and Behavioral Heterogeneity: An Experimental Approach in the Health and Retirement Study

1997 • 2,412 citations

Habit Formation: A Resolution of the Equity Premium Puzzle

1990 • 2,223 citations

LIFETIME PORTFOLIO SELECTION BY DYNAMIC STOCHASTIC PROGRAMMING

1975 • 1,863 citations

Lifetime Portfolio Selection By Dynamic Stochastic Programming

1969 • 1,665 citations

Buffer-Stock Saving and the Life Cycle/Permanent Income Hypothesis

1997 • 1,594 citations

Consumption and Portfolio Choice over the Life Cycle

2005 • 1,465 citations

The consumption of stockholders and nonstockholders

1991 • 1,223 citations

Asset pricing in production economies

1998 • 1,125 citations

Portfolio Choice and Asset Prices: The Importance of Entrepreneurial Risk

2000 • 1,107 citations

Why do so Few Hold Stocks?

1995 • 1,060 citations

Habit Persistence, Asset Returns, and the Business Cycle

2001 • 1,017 citations

Portfolio Choice in the Presence of Housing

2004 • 956 citations

Optimal Consumption with Stochastic Income: Deviations from Certainty Equivalence

1989 • 925 citations

Portfolio Choice and Trading in a Large 401(k) Plan

2003 • 807 citations

A Conditional Likelihood Ratio Test for Structural Models

2003 • 795 citations

Optimal Life‐Cycle Asset Allocation: Understanding the Empirical Evidence

2005 • 784 citations

Risk Vulnerability and the Tempering Effect of Background Risk

1996 • 742 citations

How Do Household Portfolio Shares Vary with Age

2000 • 628 citations

Optimal Consumption and Portfolio Choices with Risky Housing and Borrowing Constraints

2004 • 601 citations

Habit Formation in Consumer Preferences: Evidence from Panel Data

2000 • 478 citations

MARKET FRICTIONS, SAVINGS BEHAVIOR, AND PORTFOLIO CHOICE

1997 • 413 citations

Household stockholding in Europe: where do we stand and where do we go?

2003 • 377 citations

Exploring the health–wealth nexus

2003 • 347 citations

The Spirit of Capitalism and Stock-Market Prices

1996 • 305 citations

The measurement and structure of household wealth

1999 • 295 citations

Portfolio choice with internal habit formation: a life-cycle model with uninsurable labor income risk

2003 • 148 citations

Portfolio Choice in the Presence of Personal Illiquid Projects

2002 • 145 citations

Performance and Employer Stock in 401(k) Plans*

2004 • 133 citations

Consumption Commitments: Neoclassical Foundations for Habit Formation

2005 • 64 citations

Keeping Up with the Joneses: Evidence from Micro Data

2005 • 25 citations