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The efficient-market hypothesis (EMH) is one of the most important economic and financial hypotheses that have been tested over the past century. Due to many abnormal phenomena and conflicting evidence, otherwise known as anomalies against EMH, some academics have questioned whether EMH is...
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the other hand, overinvestment in housing is harmful to diversification and distorts portfolio management. This trade … the expected utility maximization. The originality of the model comes from its simplicity. Furthermore, the empirical …
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Tan (2005) to use two-way stochastic dominance to define the $j$-order risk-averse and risk-seeking utility that consists … of both risk-averse and risk-seeking components and we call the utility AD utility and call investors with AD utility AD … develop some properties for the ADSD theory, including properties of expected-utility maximization, hierarchy, transitivity …
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