Phân tích tư tưởng của nhân dân qua đoạn thơ: Những người vợ nhớ chồng… Những cuộc đời đã hóa sông núi ta trong Đất nước của Nguyễn Khoa Điềm
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To assess the explanatory power of a trust-based explanation, we start by
modeling the impact of trust on portfolio decisions. Not only does the model
provide testable implications, but it also gives us a sense of the economic im-
portance of this phenomenon. In the absence of any cost of participation, a low
level of trust can explain why a large fraction of individuals do not invest in
the stock market. In addition, the model shows that lack of trust amplifies the
effect of costly participation. For example, if an investor thinks that there is
a 2% probability that he will be cheated, the threshold level of...
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