Investment Portfolio Decision-making

allocation alternative analysis Arrow-Debreu assessments assessor asset pricing model assumed assumption axioms behavior bets borrowing capital asset pricing capital market common stock consider consumption contingent returns controlled transition costs decision decision problem decreasing dividend economic efficient market hypothesis efficient portfolios empirical equation estimates evaluation ex post example expected return expected utility expected value Fama firm firm's future given horizon implies income indifference curves individual investment investor Jensen Jensen measure Journal of Finance linear Lintner market model market portfolio Markowitz maximize measure mutual funds one-period optimal option partition performance period portfolio choice portfolio selection possible preference probability distributions problem procedure producer random variables revision risk aversion risk premium riskless asset risky assets Samuelson Scholes scoring rule share shareholders Sharpe short selling standard deviation stochastic stock price strategy theorem theory tion Treynor utility function valuation variance wealth zero