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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...
The mean-variance theory of Markowitz (1952) indicates that large invest-ment portfolios naturally provide better risk diversification than small ones.However, due to parameter estimation errors, one ...
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...
We consider the problem of multi-period portfolio optimization over a finite horizon, with a self-financing budget constraint and arbitrary distribution of asset returns, with objective to minimize th...
We consider a portfolio of storage devices which is used to modify a commodity flow so as to minimize an average cost function. The individual storage devices have different parameters that characteri...
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...
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...
We consider the problem of multi-period portfolio optimization over a finite horizon, with a self-financing budget constraint and arbitrary distribution of asset returns, with objective to minimize th...
We consider a portfolio of storage devices which is used to modify a commodity flow so as to minimize an average cost function. The individual storage devices have different parameters that characteri...
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.

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