Purchases of computers, software, and communications equipment grew rapidly during the 1990s, representing an increasing share of total U.S. investment spending over the course of the decade. Using official statistics from the U.S. Bureau of Economic Analysis (BEA), nominal investment expenditures for three categories—computers and peripheral equipment, software, and communications equipment—ro...

Defined contribution plans, predominantly 401(k)s, are the primary source of personal retirement savings for American workers, making the investment decisions within these accounts a salient policy concern. These decisions are a result of two separate actions: the mutual fund options selected by the employer’s plan administrator and the specific funds chosen by the participant. While considerab...

Members of social groups face a trade-off between investing selfish effort for themselves and investing cooperative effort to produce a shared group resource. Many group resources are shared equitably: they may be intrinsically non-excludable public goods, such as vigilance against predators, or so large that there is little cost to sharing, such as cooperatively hunted big game. However, group...

Tranforming energy systems to fulfill the needs of a low-carbon economy requires large investments in renewable electricity production (RES-E). Recent literature underlines the need to take a closer look at the composition of the RES-E investor group in order to understand the motives and investment processes of different types of investors. However, existing energy policies generally consider ...

The present paper considers a retiree of a certain age with an initial endowment of investable wealth facing the following alternative investment opportunities. One possibility is to buy a single premium immediate annuity-contract. This insurance contract pays a life-long constant pension payment of a certain amount, depending e.g. on the age of the retiree, the operating cost of the insurance ...

a r t i c l e i n f o Keywords: Managerial cognition International experience Foreign direct investment Top management team Asian emerging economy Event history analysis Focusing on the cognitive process of managerial decision making, we argue that both organizational and personal international experiences contribute to managerial knowledge structure which in turn influences firms' foreign dire...

Individual investors often invest actively and lose thereby. Social interaction seems to exacerbate the bias toward active trading. In the model here, conversational biases in the social transmission of performance information favor active over passive investment strategies. Senders’ propensity to communicate their returns is increasing in returns. Receivers’ propensity to attend to and be conv...

1. Throughout this paper, references to “investment manager” and “manager” may also apply to a mutual fund. 2. For definitions of key terms used in this paper, please see the Glossary on page 8. This paper dissects the portfolio construction process, providing insights on successful practices. If you have not done so already, you can work with your Financial Advisor or Private Wealth Advisor to...