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Optimal Portfolio Choice and Investment in Education [PDF]

open access: yes
In this paper we analyze how an individual should optimally invest in her own human capital when she also has financial wealth. We treat the individual’s option to take more education as expansion options and apply real option analysis.
Snorre Lindset, Egil Matsen
core  

Improved Portfolio Choice using Second-Order Stochastic Dominance [PDF]

open access: yes
We examine the use of second-order stochastic dominance as both a way to measure performance and also as a technique for constructing portfolios. Using in-sample data, we construct portfolios such that their second-order stochastic dominance over a ...
James E. Hodder   +2 more
core  

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