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Contenido

The author presents the theory of portfolio choice from a new perspective, recommending decision rules that have advantages over those currently used in theory and practice. Portfolio choice theory relies on expected values. Goodall argues that this dependence has a historical basis and argues that current decision rules are inadequate for most portfolio choice situations. Drawing on econometric solutions proposed for the problem of forecasting outcomes of a chance experiment, the author defines adequacy criteria, and proposes adequate decision rules for a variety of situations. Goodall's theory combines the problems of prediction and choice, and formulates solutions based on cost functions that fit the underlying decision situation.

   INDICE: Introduction. Risk and decision. Analysis of prominent decision rules. Adequate decision rules for portfolio choice. Conclusion.

Detalles del artículo

• Páginas : 128
• Editorial : Macmillan Distribution
• Idioma : Inglés
• Fecha de Publicación : 01/04/2002
• ISBN: 9780333994320
• Encuadernación : Cartoné
• Nº Volúmenes : 1
• País de Publicación : Reino Unido (INGLATERRA)