| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP13127 |
| DP13127 Optimal fund menus | |
| Julien Hugonnier | |
| 发表日期 | 2018-08-20 |
| 出版年 | 2018 |
| 语种 | 英语 |
| 摘要 | We study the optimal design of a menu of funds by a manager who is required to use linear pricing and does not observe the beliefs of investors regarding one of the risky assets. The optimal menu involves bundling of assets and can be explicitly constructed from the solution to a calculus of variations problem that optimizes over the indirect utility that each type of investor receives. We provide a complete characterization of the optimal menu and show that the need to maintain incentive compatibility leads the manager to offer funds that are inefficiently tilted towards the asset that is not subject to the information friction. |
| 主题 | Financial Economics |
| 关键词 | Mutual fund menus Screening Linear pricing Asset bundling |
| URL | https://cepr.org/publications/dp13127-0 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/541931 |
| 推荐引用方式 GB/T 7714 | Julien Hugonnier. DP13127 Optimal fund menus. 2018. |
| 条目包含的文件 | 条目无相关文件。 | |||||
| 个性服务 |
| 推荐该条目 |
| 保存到收藏夹 |
| 导出为Endnote文件 |
| 谷歌学术 |
| 谷歌学术中相似的文章 |
| [Julien Hugonnier]的文章 |
| 百度学术 |
| 百度学术中相似的文章 |
| [Julien Hugonnier]的文章 |
| 必应学术 |
| 必应学术中相似的文章 |
| [Julien Hugonnier]的文章 |
| 相关权益政策 |
| 暂无数据 |
| 收藏/分享 |
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
