Adequate Decision Rules for Portfolio Choice Problems

Name: Adequate Decision Rules for Portfolio Choice Problems
Author: T. Goodall

Specificaties

Gebonden, blz. | Engels

Palgrave Macmillan UK | e druk, 2002

ISBN13: 9780333994320

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Juridisch :

Palgrave Macmillan UK e druk, 2002 9780333994320

Onderdeel van serie Finance and Capital Markets Series

€ 184,01

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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.