Hi Robert,
I am struggling to interpret some final results in my research, which is based on your portfolio choice models.
I am wondering whether, in all your portfolio choice models, the iterated life-cycle paths for the risky share actually represent the stock share only among stock market participants.
Specifically, do the life-cycle plots of the risky share show:
a) the risky share among stock market participants, or
b) the risky share across both participants and non-participants?
Thank you!
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By default all model statistics are calculated across the whole population. Hence the answer is (b).
If you want (a), you can use simoptions.conditionalrestrictions to restrict the population on which the statistics are calculated to be those who are participants. [The restriction should be set up to =1 for participants, 0 otherwise.]
Note, the above relates to ‘AllStats’. With ‘AgeConditionalStats’ everything is the same as above, but conditional on age. So the basic would be “risky share across both participants and non-participants, conditional on age”, while you could use simoptions.conditionalrestrictions to get the “risky share across participants, conditional on age”.
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Great. This seems clear to me now. Thanks again!
I have reduced my other issues to one or two which are very critical or fundamental. I will post them now separately.
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