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Utility Evaluation of Risk in Retirement Saving Accounts
Working paper by James Poterba, Joshua Rauh, Steven Venti and David Wise via National Bureau of Economic Research [NBER] 
Aug. 21, 2003 Excerpt: Viewed from the beginning of a working career, and given the historical pattern of returns on stocks and bonds, a household that does not have extremely high risk aversion would achieve a higher expected utility by holding a portfolio of stocks rather than bonds. MORE >> |
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