%0 Journal Article %J Review of Economics of the Household %D 2015 %T Portfolio choice and risk attitudes: a household bargaining approach %A Tansel Yilmazer %A Lich, Stephen %K Adult children %K Net Worth and Assets %K Other %K Risk Taking %X The goal of this study is to understand how the households decide on portfolio asset allocation when the husband and wife have different risk preferences. Using data from the Health and Retirement Study for 1992 2006, we show that the share of risky assets in portfolios of two-person households increases with the risk tolerance of the spouse who has more bargaining power. The risk tolerance of the spouse who has less bargaining power does not seem to affect the share of household wealth allocated to risky assets. These results are consistent with a cooperative bargaining framework where the investment in risky assets depends on the bargaining power of the more risk tolerant spouse. %B Review of Economics of the Household %I 13 %V 13 %P 219-241 %G eng %U http://dx.doi.org/10.1007/s11150-013-9207-8 %4 Portfolio choice/Risky assets/Household bargaining/Risk tolerance/Bargaining power/Married couples %$ 999999 %R 10.1007/s11150-013-9207-8