DEMAND FOR RISKY FINANCIAL ASSETS - A PORTFOLIO ANALYSIS

被引：54

作者：

LANDSBERGER, M ^{[1
]}

MEILIJSON, I ^{[1
]}

机构：

[1] TEL AVIV UNIV,RAYMOND & BEVERLY SACKLER FAC EXACT SCI,SCH MATH SCI,IL-69978 TEL AVIV,ISRAEL

来源：

JOURNAL OF ECONOMIC THEORY | 1990年 / 50卷 / 01期

关键词：

D O I：

10.1016/0022-0531(90)90092-X

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

Demand for risky financial assets takes place in portfolio settings. The common stochastic orders applied in economics fail to rank demand for assets in such situations even for risk-averse investors. Therefore, the evaluation of the relative desirability of risky financial assets requires the establishment of new orders. We prove that if returns on risky assets are ordered by the monotone likelihood ratio order then dominating assets will be more desired by all investors with nondecreasing utility functions. © 1990.

引用

页码：204 / 213

页数：10

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