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- W2029789040 abstract "Evidently, the theoretical foundation of behavioral portfolio selection fundamentally differs from the concept of rational portfolio selection under uncertainty. Behavioral portfolio selection with respect to some given benchmark portfolio violates classical axioms of rationality. The paper proposes a unified behavioral model of portfolio selection, which incorporates both, rational portfolio selection as well as benchmarking, and derives its analytical solution. In the model, the manager's utility function is based on regret theory and has two instead of one objective variable. The corresponding EVC-criterion helps to clarify controversial issues in portfolio selection and allows for testable implications." @default.
- W2029789040 created "2016-06-24" @default.
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- W2029789040 date "2000-01-01" @default.
- W2029789040 modified "2023-09-27" @default.
- W2029789040 title "On a Model of Portfolio Selection with Benchmark" @default.
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- W2029789040 doi "https://doi.org/10.2139/ssrn.239482" @default.
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