Bliss Points in Mean-Variance Portfolio Models
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When all financial assets have risky returns, the mean-variance portfolio model is potentially subject to two types of bliss points. One bliss point arises when a von Neumann-Morgenstern utility function displays negative marginal utility for sufficiently large end-of-period wealth, such as in
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美国国家经济研究局创建时间：
1981-12-01
