In this paper we formulate and solve the problem of universal growth optimal investment in two-asset discrete time markets with proportional transaction costs. We do not make any distributional assumptions on the market return sequences and construct a policy with growth rate at least as large as any interval policy. Since interval policies are 2-optimal for independent identically distributed ...

This paper develops methods for evaluating marginal policy changes. We characterize how the effects of marginal policy changes depend on the direction of the policy change, and show that marginal policy effects are fundamentally easier to identify and to estimate than conventional treatment parameters. We develop the connection between marginal policy effects and the average effect of treatment...

In this paper, we develop a dynamic investment model maximizing the expected “utility” of excess return relative to a benchmark portfolio. Following the standard setting of continuous time framework for the securities market developed by Merton (1971) and others, we obtain an explicit formula for the optimal portfolio policy for a utility function ofHyperbolic Absolute Risk Aversion (HARA). Unl...

In this paper, we address the problem of maximizing expected return subject to a worst case return constraint by composing a portfolio that may consist of cash, holdings in a stock market index and options on the index. We derive properties of optimal and feasible portfolios and present a linear programming model to solve the problem. The optimal portfolios have pay-off functions that reflect a...

conclusions psychiatric, neurological, gastrointestinal, and respiratory diseases are the most frequent reasons of referring patients to iran. more accuracy in screening and care of patients are recommended before hajj in order to prevent references to iran and its complications. results a total of 106 cases were referred iran during hajj 2012. psychiatric problems, with 26.4% allocated the hig...

political marketing shares many characteristics in common with marketing in the business world. in business marketing , sellers dispatch goods, services, and communications[e.g.advertising] to the market and in return, money [consumer purchases], information [consumer research], and customer loyalty are received. in political campaigns, candidates dispatch promises , favors , policy preferences...

Links [1] https://www.uoguelph.ca/hr/policies/back-care-policy [2] https://www.uoguelph.ca/hr/policies/bloodborne-pathogens-policy [3] https://www.uoguelph.ca/hr/policies/confidentiality-employee-health-and-medical-records-policy [4] https://www.uoguelph.ca/hr/policies/consumption-alcoholic-beverages-university-property-policy [5] https://www.uoguelph.ca/hr/policies/employee-assistance-program-...