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- DescriptionThe 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 ecometric 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.
- Author BiographyTHILO GOODALL holds a PhD from the University of Freiburg (Germany) and is currently with SAM Sustainable Asset Management in Switzerland.
- Author(s)Thilo Goodall
- PublisherPalgrave Macmillan
- Date of Publication30/04/2002
- SubjectFinance & Accounting
- Series TitleFinance and Capital Markets Series
- Place of PublicationBasingstoke
- Country of PublicationUnited Kingdom
- ImprintPalgrave Macmillan
- Content Notebiography
- Weight319 g
- Width140 mm
- Height216 mm
- Spine11 mm
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