Heller, Yuval; Schreiber, Amnon - In: Theoretical economics : TE ; an open access journal in … 15 (2020) 3, pp. 891-921
We study various decision problems regarding short-term investments in risky assets whose returns evolve continuously in time. We show that in each problem, all risk-averse decision makers have the same (problem-dependent) ranking over short-term risky assets. Moreover, in each problem, the...
