Abstract
Since investors rebalance their portfolios over time, it turns out that single period investment models are not enough to help investors make their decisions about how to allocate their limited wealth to different assets. Thus multi-period models of investment are much more realistic and they are extensively used for practical purposes in the financial industry. There are some successful applications of multi-period investment models such as the Russel-Yasuda Kasai asset/liability model [Carino et al. (1994)], the Towers Perrin-Tillinghast asset and liability management system [Mulvey (2000)].
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
Author information
Authors and Affiliations
Rights and permissions
Copyright information
© 2002 Springer-Verlag Berlin Heidelberg
About this chapter
Cite this chapter
Wang, S., Xia, Y. (2002). Multi-period Investment. In: Portfolio Selection and Asset Pricing. Lecture Notes in Economics and Mathematical Systems, vol 514. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-55934-1_6
Download citation
DOI: https://doi.org/10.1007/978-3-642-55934-1_6
Publisher Name: Springer, Berlin, Heidelberg
Print ISBN: 978-3-540-42915-9
Online ISBN: 978-3-642-55934-1
eBook Packages: Springer Book Archive