A new axiomatization of portfolio theory

Jan P.H. van Santen

doi:10.1016/0022-2496(78)90033-0

A new axiomatization of portfolio theory

Jan P.H. van Santen

Research output: Contribution to journal › Article › peer-review

5 Scopus citations

Abstract

An axiomatization proposed by Coombs 1974 is shown to be insufficient for the representation of gambles in a risk × expected value space as described by Portfolio Theory. A new axiom system is given which is necessary and sufficient for this representation, and which implies the old axiomatization.

Original language	English (US)
Pages (from-to)	14-20
Number of pages	7
Journal	Journal of Mathematical Psychology
Volume	17
Issue number	1
DOIs	https://doi.org/10.1016/0022-2496(78)90033-0
State	Published - Feb 1978
Externally published	Yes

ASJC Scopus subject areas

General Psychology
Applied Mathematics

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10.1016/0022-2496(78)90033-0

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A new axiomatization of portfolio theory

Abstract

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