Abstract
The Baumol gain-confidence limit concept for selecting the set of efficient portfolios is commonly used, probably because of its intuitive relationships to the problem of ruin. This note shows the differences between Baumol's idea and the ruin constraint.
Original language | English |
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Pages (from-to) | 189-195 |
Number of pages | 7 |
Journal | Journal of Banking and Finance |
Volume | 4 |
Issue number | 2 |
DOIs | |
State | Published - Jun 1980 |