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econ.TH2024
Non-diversified portfolios with subjective expected utility
Christopher P. Chambers, Georgios Gerasimou
Diversification is the typical investment strategy of risk-averse agents. However, non-diversified positions that allocate all resources to a single asset, state of the world or re…
econ.TH2024
Empirical Welfare Economics
Christopher P Chambers, Federico Echenique
Welfare economics relies on access to agents' utility functions: we revisit classical questions in welfare economics, assuming access to data on agents' past choices instead of the…