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Intertemporal portfolio choice : ウィキペディア英語版
Intertemporal portfolio choice
Intertemporal portfolio choice is the process of allocating one's investable wealth to various assets, especially financial assets, repeatedly over time, in such a way as to optimize some criterion. The set of asset proportions at any time defines a portfolio. Since the returns on almost all assets are not fully predictable, the criterion has to take financial risk into account. Typically the criterion is the expected value of some concave function of the value of the portfolio after a certain number of time periods—that is, the expected utility of final wealth. Alternatively, it may be a function of the various levels of goods and services consumption that are attained by withdrawing some funds from the portfolio after each time period.
==Discrete time==


抄文引用元・出典: フリー百科事典『 ウィキペディア(Wikipedia)
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