학회소식
[2015년 제 1차] Disappointment Aversion in Asset Allocation
작성자 : 관리자
조회수 : 931
게시일 :
2015-12-30
We investigate investors’ asset allocation in a more generally applicable framework in which their utility consists of wealth utility and disappointment-elation utility. We show that optimal investment proportions in risky assets increase when disappointm
