We investigate whether alternative asset classes should be included in optimal portfolios of the most prominent investor personae in the Behavioral Finance literature, namely, the Cumulative Prospect Theory, the Markowitz and the Loss Averse types of investors. We develop a stochastic spanning...

We investigate whether alternative asset classes should be included in optimal portfolios of the most prominent investor personae in the Behavioral Finance literature, namely, the Cumulative Prospect Theory, the Markowitz and the Loss Averse types of investors. We develop a stochastic spanning...

In this paper, we focus on the role of assets in relation to chronic poverty. In particular, we consider the issue of whether it is not just low levels of assets which identify and explain chronic poverty, but also whether the asset accumulation process displays non-linearities and...