How many financial advisers do you need?

报告题目：How many financial advisers do you need?

报告人：娄有成（中国科学院数学与系统科学研究院）

摘要：We study a rational expectations equilibrium economy populated by investors and their financial advisers. Without knowledge of market parameters, investors depend on advisers for investment recommendations. Advisers provide suggestions that are in the best interest of their client investors, who then aggregate suggested strategies under bounded rationality constraints of conformism and regret aversion under ambiguity. Our model can explain why they consult only a few advisers despite the abundance of available options. Our analysis highlights that quality of advice is more important than the number of advisers consulted, and that it is never optimal to rely on a single financial adviser.

时间：3月27日（星期四），14:00-15:20

地点：明德楼B201-1