Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/38778 
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dc.contributor.authorDolzer, Arminen
dc.contributor.authorNietert, Bernharden
dc.date.accessioned2007-02-01-
dc.date.accessioned2010-08-16T12:05:07Z-
dc.date.available2010-08-16T12:05:07Z-
dc.date.issued2006-
dc.identifier.urihttp://hdl.handle.net/10419/38778-
dc.description.abstractPrivate investors have limited time available for learning about stocks as they need to divide their time between stock analysis and work. This paper analyzes the influence of learning constraintsin the form of time constraints on portfolio selection and derives both optimal portfolio holdings and time allocation. Under time constraints, rational private investors make portfolio choices similar to those ofi nvestors with bounded rationality, i.e., insufficient diversification and excessive trading. Thus, time constraints offer an alternative, fully rational explanation for these real-world investment phenomena, which have to date been interpreted primarily in the light of behavioral finance.en
dc.language.isoengen
dc.publisher|aUniversität Passau, Wirtschaftswissenschaftliche Fakultät |cPassauen
dc.relation.ispartofseries|aPassauer Diskussionspapiere - Betriebswirtschaftliche Reihe |x12en
dc.subject.jelG11en
dc.subject.jelG12en
dc.subject.ddc650en
dc.subject.keywordexcessive tradingen
dc.subject.keywordinsufficient diversificationen
dc.subject.keywordlearningen
dc.subject.keywordportfolio selectionen
dc.subject.keywordtime constrainten
dc.titlePortfolio selection with time constraints and a rational explanation of insufficient diversification and excessive trading-
dc.typeWorking Paperen
dc.identifier.ppn523683898en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:upadbr:12en

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