共同基金原理(mutual fund theorem) 认为只需一个风险性资产建构而成的 假如全体投资人选择持有市场指數型基金,投资组合 … www.docin.com|基于 1 个网页 3. 互助基金定理 ...nd separation theorem)或者互助基金定理(mutual fund theorem)(托宾,1958)。 均值 效率边界 e r r f p w T ...
aswimming swiftly in the sea all day 整天快速游泳在海 [translate] ait is likely to do 做可能的 [translate] ait is likely to play football 踢橄榄球可能的 [translate] aMutual Fund Theorem 共同基金定理 [translate] 英语翻译 日语翻译 韩语翻译 德语翻译 法语翻译 俄语翻译 阿拉伯语翻译 西班牙语翻译...
Understanding the Mutual Fund Theorem The mutual fund theorem is the use of mutual fund investments in the building of a comprehensive portfolio. The mutual fund theorem was introduced byJames Tobin, who worked alongsideHarry Markowitzfrom 1955 to 1956 at the Cowles Foundation at Yale University. T...
It identifies the optimum portfolios with and without the risk-free interest rate, which is the foundation of the mutual fund and separation theorems, and later become the beta factors models鈥doi:10.1142/9789814460385_0005Ser-Huang PoonWorld Scientific Publishing Co. Pte. Ltd....
1) mutual fund theorem 共同基金定理 1. A new consideration of the continuous timemutual fund theoremin the case of incomplete market is presented,which releases traditional assumptions on the investors\' consumption and final wealth utility functions which,however,are still time addictive and non-dec...
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We extend the mutual fund theorem to accommodate ambiguity, identify a necessary and sufficient condition for a given portfolio to be optimal for some ambiguity-averse investor, characterize all the ambiguity structure under which the given portfolio is optimal, and nd the minimal ones in two ...
We show that the mutual fund theorems of Merton [1971. Journal of Economic Theory 3, 373–413] extend to the problem of optimal investment to minimize the probability of lifetime ruin. We obtain two such theorems by considering a financial market both with and without a riskless asset for ...
Related: open-end fund, closed-end fund. Mutual fund theorem A result associated with the CAPM, asserting that investors will choose to invest their entire risky portfolio in a market-index or mutual fund. Mutual offset A system, such as the arrangement between the CME and SIMEX, which...