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Why Does the Law of One Price Fail? An Experiment on Index Mutual Funds

We conduct an experiment to evaluate why individuals invest in high-fee index funds. In our experiments, subjects allocate $10,000 across four S&P 500 index funds and are rewarded for their portfolio’s subsequent return. Subjects overwhelmingly fail to minimize fees. We can reject the hypothesis...

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Autors principals: Choi, James J., Laibson, David, Madrian, Brigitte C.
Format: Artigo
Idioma:Inglês
Publicat: 2010
Matèries:
Accés en línia:https://ncbi.nlm.nih.gov/pmc/articles/PMC2872995/
https://ncbi.nlm.nih.gov/pubmed/20495662
https://ncbi.nlm.nih.govhttp://dx.doi.org/10.1093/rfs/hhp097
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