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What is State Preference Theory in Investing about?

This document discusses state preference theory for optimizing investment portfolios. It covers: 1) Choosing an optimal portfolio based on initial assets and risk appetite when investing in multiple assets, assuming a perfect capital market with no transaction fees. 2) Defining alternative future states of the economy and how securities can yield different returns depending on the state. 3) Using pure securities that pay $1 if a certain state occurs and $0 otherwise to build any portfolio combination a

Author

K60 Đỗ Khánh Ngân

Language

EN