Limited Capital Market Participation and Human Capital Risk

Title:

Limited Capital Market Participation and Human Capital Risk

GSB Authors:

Jonathan Berk

All Authors:

Berk, Jonathan

Walden, J.

Date:

2010-01-01

Abstract:

The non-tradability of human capital is often cited for the failure of traditional asset pricing theory to explain agents' portfolio holdings. In this paper we argue that the opposite might be true

Collection:

Faculty Publications

Keywords:

financial economics

portfolio selection and asset pricing

labor economics

labor supply and demand

asset pricing

DOI:

https://doi.org/10.3386/w15709

Academic Area:

Finance

Publication Type:

Working Papers