We study the comparative statics implications of mean-variance preferences for optimal portfolios. Specifically, we show that all risk averse mean-variance investors raise their investment in a risky asset in response to a change in that asset's return distribution if and only if the change...

We study the comparative statics implications of mean-variancepreferences for optimal portfolios. Specifically, we show thatall risk averse mean-variance investors raise their investmentin a risky asset in response to a change in that asset's returndistribution if and only if the change lowers...

We study the comparative statics implications of mean-variance preferences for optimal portfolios. Specifically, we show that all risk-averse mean-variance investors raise their investment in a risky asset in response to a change in that asset's return distribution if and only if the change...

This paper investigates aspects of insurance demand related to deductible insurance. In particular, an important issue concerning analysis of the optimal deductible level is resolved. A simple sufficient restriction on the pricing of insurance is given which ensures that the second order...