دانلود مقاله لاتین با عنوان افزایش انحراف معیار و پراکندگی بازده پرتفولیو

اختصاصی از فی دوو دانلود مقاله لاتین با عنوان افزایش انحراف معیار و پراکندگی بازده پرتفولیو دانلود با لینک مستقیم و پر سرعت .

Abstract

Oliver Hart proved the impossibility of deriving general comparative static properties in portfolio Instead, we derive new comparative statics for the distribution of payoffs: A is less risk averse than  B iff A’s payoff is always distributed as B’s payoff plus a non-negative random variable plus conditional mean- zero noise. If either agent has non increasing absolute risk aversion, the non-negative part can be chosen to be constant. The main result also holds in some incomplete markets with two assets or two-fund separation, and in multiple periods for a mixture of payoff distributions over time (but not at every point in

time).

Keywords: Risk aversion; Portfolio theory; Stochastic dominance; Complete markets; Two-fund separation