Portfolio choice over the life-cycle: a survey

Gomes, F (2020) Portfolio choice over the life-cycle: a survey. Annual Review of Financial Economics, 12 (1). pp. 277-304. ISSN 1941-1367


Life-cycle portfolio choice models capture the role of human capital, housing, borrowing constraints, background risk, and several other crucial ingredients for determining the savings and investment decisions of households. Over the last two decades, this literature has provided us with multiple insights regarding the asset allocation decisions of individual investors. This article provides a critical survey of this research and suggests directions for future research, namely incorporating additional forms of household heterogeneity.

More Details

Item Type: Article
Subject Areas: Finance
Additional Information:

© Annual Reviews 2020

Date Deposited: 04 Jan 2021 10:14
Date of first compliant deposit: 14 Dec 2020
Subjects: Portfolio investment
Last Modified: 27 May 2024 01:47
URI: https://lbsresearch.london.edu/id/eprint/1594

Export and Share


Full text not available from this repository.


View details on Dimensions' website

Downloads from LBS Research Online

View details

Actions (login required)

Edit Item Edit Item