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In the discussion on the relationship between spot and forward prices in electricity markets, the equilibrium approach has an unambiguous prevalence. It is the relative recency of this market that giv...
We show how to compute in a numerically efficient way the maximum risk of a portfolio, given uncertainty in the means and covariances of asset returns. This is a semidefinite programming problem, and ...
We consider the problem of portfolio selection, with transaction costs and constraints on exposure to risk. Linear transaction costs, bounds on the variance of the return, and bounds on different shor...
The authors ran a game-based simulation of an electricity market with both an RPS and a cap-and-trade market for greenhouse gas emissions allowances. High renewable energy shares reduced and shifte...
The authors ran a game-based simulation of an electricity market with both an RPS and a cap-and-trade market for greenhouse gas emissions allowances. High renewable energy shares reduced and shifte...
I evaluate the effect of loyalty on individuals' portfolio choice using a unique dataset of retirement contributions. I exploit the statutory difference that in 401(k) plans stand alone employees can ...
Optimal Portfolio Rules in Continuous Time When the Nonnegativity Constraint on Consumption is Binding.
In this paper, we test a method for visualizing and measuring software portfolio architectures and use our measures to predict the costs of architectural change. Our data is drawn from a biopharmaceut...
This paper proposes a new approach to social cost-benefit analysis using a model in which a benevolent government chooses risky projects in the presence of market failures and tax distortions. The gov...
We explore a new channel for attracting inflows using a unique dataset of corporate 401(k) retirement plans and their mutual fund family trustees. Families secure substantial inflows by being named tr...
Decisions about how much to diversify an R&D portfolio and the specific areas in which to pursue projects are fundamental to a firm’s R&D strategy. There is some evidence that larger firms diversify t...
This thesis examines two possible orders of combining multiple experts in elicitations with multiple de-composed events: Should experts be combined early or later in the decision process? This thesis ...
I illustrate the effect of financial innovation on portfolio risks by using an example with risk-sharing needs and belief disagreements. I consider two types of innovation: product innovation, formali...
In this paper we consider an interval portfolio selection problem with uncertain returns and introduce an inclusive concept of satisfaction index for interval inequality relatio...

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