English (United Kingdom)

https://curated-unify.zendy.io/wp-json/zendy-region/v1/featured_content/oa?rat=en

https://curated-unify.zendy.io/wp-json/zendy-region/v1/highlighted_journal/

Zendy Plus

Presents the access of premium content as premium feature

Premium Content

Presents the keyphrase highlighting as premium feature

Keyphrase Highlighting

Presents the summarisation as premium feature

Summarisation

Insights

Presents the pdf analysis as premium feature

PDF Analysis

Presents the zaia usage as premium feature

ZAIA

Zendy Tools

Zendy Open

A classical portfolio theory deals with finding the optimal proportion inwhich an agent invests a wealth in a risk-free asset and a probabilistic riskyasset. Formulating and solving the problem depend on how the risk isrepresented and how, combined with the utility function defines a notion ofexpected utility. In this paper the risk is a fuzzy variable and the notion ofexpected utility is defined in the setting of Liu's credibility theory. Thusthe portfolio choice problem is formulated as an optimization problem in whichthe objective function is a credibilistic expected utility. Differentapproximation calculation formulas for the optimal allocation of thecredibilistic risky asset are proved. These formulas contain two types ofparameters: various credibilistic moments associated with fuzzy variables(expected value, variance, skewness and kurtosis) and the risk aversion,prudence and temperance indicators of the utility function.

How the investor's risk preferences influence the optimal allocation in a credibilistic portfolio problem