دانلود مقاله لاتین با عنوان افزایش انحراف معیار و پراکندگی بازده پرتفولیو

  Abstract Oliver Hart proved the impossibility of deriving general comparative static properties in portfolio Instead, we derive new comparative statics for the distribution of payoffs: A is less risk averse than   B iff A ’s payoff is always distributed as B ’s payoff plus a non-negative random variable plus conditional mean- z ero noise. If either agent has non increasing absolute risk aversion, the non-negative part can be chosen to be constant. The main result ...