Are High Income Individuals Better Stock Market Investors?

28 Pages Posted: 7 May 2001 Last revised: 6 Aug 2010

See all articles by Martin S. Feldstein

Martin S. Feldstein

National Bureau of Economic Research (NBER) (deceased); Harvard University (deceased)

Shlomo Yitzhaki

Hebrew University of Jerusalem - Department of Economics; National Bureau of Economic Research (NBER)

Date Written: July 1982

Abstract

This paper presents evidence that the corporate stock owned by high income investors appreciates substantially faster than the stock owned by investors with lower incomes. Those with very high incomes enjoy the greatest success on their investments while those with incomes under $20,000 have the least success. The evidence indicates that the differences are large and that they have persisted for a long time.

Suggested Citation

Feldstein, Martin S. and Yitzhaki, Shlomo, Are High Income Individuals Better Stock Market Investors? (July 1982). NBER Working Paper No. w0948, Available at SSRN: https://ssrn.com/abstract=268870

Martin S. Feldstein (Contact Author)

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Shlomo Yitzhaki

Hebrew University of Jerusalem - Department of Economics ( email )

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