Showing 1 - 2 of 2
Persistent link: https://www.econbiz.de/10010257467
This paper establishes general conditions for the validity of mutual fund separation and the equilibrium CAPM. We use partial preference orders that display weak form mean preserving spread (w-MPS) risk aversion in the sense of Ma (2011). We derive this result without imposing any distributional...
Persistent link: https://www.econbiz.de/10013125646