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Purchasing higher risk financial investments have been a means to maximize individual wealth. This phenomenon is seen while there is a high uncertainty about the higher risk financial investments. Facing uncertainty, an individual may assess psychological or economic loss, and then develop risk-reducing strategies. Viewing information searches as risk-reducing strategies in this study, we attempted...
In order to maximize portfolio return of a fund which is managed by multi-managers not belonging to a managerial hierarchy in a large investment institution, we introduce a decentralized investment method by which an optimal portfolio and optimal firm utility can be obtained. The analytical result shows that the firm performance with decentralized investment is different from that with centralized...
By simultaneously considering the financial risk and longevity risk, this paper develops a discrete multi-period framework that integrates annuity purchase decisions with consumption-investment selections in retirement planning, so as to discuss the optimal allocation of wealth in consumption, annuity and traditional assets. Computational results are provided to demonstrate the construction of consumption...
Risk aversion is one of major psychological determinants of risky decision-making behavior and information search is often used as a way to overcome perceived risk by investors. This study attempted to propose a mediated model of the determinants of risky investment decision making where theorizing that the effect of risk aversion on risky investment decision was mediated by information search, integrating...
The following topics are dealt with: stock market dynamic regimes; stochastic multi-agent model; diurnal price density estimation; procurement service; Web information disclosure; financial service industry; online financial decision support module; mobile phone market; Karachi stock exchange; risk aversion; investment; information search; constrained portfolio optimisation; red-tourism development;...
Two approaches to portfolio selection using the linear utility of terminal wealth are proposed. The trading strategies are constrained to be differentiable and thus of finite variation. The linear utility is extended to include a quadratic penalty on the rate of change of the number of shares held in the risky asset. This removes the risk neutrality associated with the linear utility and portfolios...
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