The Tried-Stone Scheme and a Million-Dollar Bet
Speaker
David Lagziel
Date
28/03/2017 - 12:30 - 11:00Add To Calendar
2017-03-28 11:00:00
2017-03-28 12:30:00
The Tried-Stone Scheme and a Million-Dollar Bet
Abstract. We design incentives schemes for portfolio managers that filter out suboptimal portfolio managers: only the best portfolio managers, in terms of expected payoffs, agree to participate in the single-period investment. The results hold in general financial markets, where uninformed investors face managers of different capabilities, and can only observe their one-shot realized returns. Policy implications are derived accordingly.
Economics building (504), faculty lounge on the first floor.
אוניברסיטת בר-אילן - Department of Economics
Economics.Dept@mail.biu.ac.il
Asia/Jerusalem
public
Place
Economics building (504), faculty lounge on the first floor.
Affiliation
Tel Aviv University
Abstract
Abstract. We design incentives schemes for portfolio managers that filter out suboptimal portfolio managers: only the best portfolio managers, in terms of expected payoffs, agree to participate in the single-period investment. The results hold in general financial markets, where uninformed investors face managers of different capabilities, and can only observe their one-shot realized returns. Policy implications are derived accordingly.
Attached file
Last Updated Date : 15/03/2017
