Adequate Decision Rules For Portfolio Choice Problems
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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.
Product features:
| Autor |
Goodall |
| Wydawnictwo |
Palgrave Macmillan |
| Rok wydania |
2002 |
| Liczba stron |
128 |
| ISBN |
978-0-333-99432-0 |
| Oprawa |
oprawa twarda |
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