Christiansen, Charlotte; Joensen, Juanna Schröter - School of Economics and Management, University of Aarhus - 2006
; Efficient Frontier; Human Capital
Investment; Mean-Variance Analysis.
JEL classification: I21, J24.
2
1. Introduction … comparing the efficient frontier in the mean-variance space
spanned by a subset of assets to that spanned by all assets, e …
efficient frontier, which is the northwestern envelope curve of the feasible
set.2 Only on the frontier, is it possible to …