Haim Levy

Thierry Post

Investments offers a topical and thorough introduction to securities, securities markets and investment strategies, discussing in detail the various ways in which you can minimise risk and maximise yields. Recent years have witnessed a revolution in the field of finance and investment in the capital market, with the market becoming truly global. This book addresses this difficult subject in a logical manner ¿ organised and written around the new developments and challenges facing the capital market. The book takes a truly international approach with coverage of international markets and companies. This book is suitable for any undergraduate or postgraduate investments course taken as part of a finance, business or economics programme.

Investments

FIRST-ORDER STOCHASTIC DOMINANCE (FSD) is one of the fundamental concepts of decision making under uncertainty, relying only on the assumption of nonsatiation, or decision makers preferring more to less. There exist well-known, simple algorithms for establishing FSD relationships between a pair of choice alternatives. Unfortunately, these algorithms have limited use in applications with more than two choice alternatives. The analysis of investment portfolios is one such application; investors generally can form a large number of portfolios by diversifying across individual assets. For such applications, there is a need to develop an algorithm for establishing if a given portfolio represents the optimal solution for at least some nonsatiable investor, i.e., is in the FSD optimal set.

Thierry Post

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