Adequate Decision Rules for Portfolio Choice Problems
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.
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Adequate Decision Rules for Portfolio Choice Problems
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.
169.99
In Stock
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Adequate Decision Rules for Portfolio Choice Problems
114Adequate Decision Rules for Portfolio Choice Problems
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169.99
In Stock
Product Details
ISBN-13: | 9780333994320 |
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Publisher: | Palgrave Macmillan UK |
Publication date: | 04/30/2002 |
Series: | Finance and Capital Markets Series |
Edition description: | 2002 |
Pages: | 114 |
Product dimensions: | 5.51(w) x 8.50(h) x 0.02(d) |
About the Author
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