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investors´welfare losses
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optimal portfolio strategy
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probability distribution function of stock returns
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proportionate opportunity cost
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Melkumian, Alla A.
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Journal of Applied Economics
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The opportunity cost of being constrained by the type of assets: Bonds only or stocks only
Melkumian, Alla A.
- In:
Journal of Applied Economics
IX
(
2006
)
November
,
pp. 325-343
I explore
investors
’
welfare
losses
when they restrict themselves to invest in either stocks only or bonds only, but …
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