Risk Aversion and Wealth: Evidence from Person-to-Person Lending Portfolios
NBER Working Paper No. 16063
---- Acknowledgements ----
We are grateful to Lending Club for providing the data and for helpful discussions on this project. We thank Michael Adler, Manuel Arellano, Nick Barberis, Geert Bekaert, Patrick Bolton, John Campbell, Larry Glosten, Nagpurnanand Prabhala, Bernard Salanie, and seminar participants at CEMFI, Columbia University GSB, Duke Fuqua School of Business, Hebrew University, Harvard Business School, Kellogg School of Management, Kellstadt Graduate School of Business-DePaul, London Business School, Maryland Smith School of Business, M.I.T. Sloan, Universidad Nova de Lisboa, the Yale 2010 Behavioral Science Conference, and the SED 2010 meeting for helpful comments. All remaining errors are our own. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.