This is a preview. Log in through your library . Abstract Although probabilistic discrete-choice models such as multinomial logit are widely used, little consideration has been given to the ...

This article obtains demand functions for risky assets without making a priori assumptions about the form of the utility function. In a simple portfolio model, the envelope theorem is applied to the ...

The integration of behavioural finance with portfolio optimization represents an evolving frontier in financial research. Traditional portfolio theory, predicated on rational, utility-maximising ...