Везде
MODELING OF INVESTOR’S BEHAVIOR ON COMBINED MARKET: FROM SPECIFIC TO GENERAL
Table of contents
Annotation Estimate Publication content
References Comments
Share
QR
Metrics
MODELING OF INVESTOR’S BEHAVIOR ON COMBINED MARKET: FROM SPECIFIC TO GENERAL
Annotation
PII
S042473880000516-6-1
Publication type
Article
Status
Published
Authors
Yulia Kurmanova 
Edition
Volume 53 Issue 1
Pages
75-93
Abstract

The article is devoted to a very important problem – increase of effectiveness of investment strategy. Directly considered the optimization problem of investor’s behavior on combined market representing as total real and financial markets. The author analyses different types of scenario – from specific to general, and offers a classification of problems depending on investment direction. The author also proposes methods for addressing the problem in the conditions of stationary and nonstationary macro-economic environment. Developed the new specific formulation of problem and presented the decision algorithm depending on macro-economic environment. The paper introduces the problem-solving recommendations for general problem description. New elements are introduced, for example, the decision making using maximization criteria of the two values, defined as selection criterion – the indicator of the effect, which are calculated depending on type of investments for the accounting period; aligned the level of risk in considered segments of combined market for guaranteeing the correct selection. Proposed are the methods for problem solving for stationary and unstable macroeconomic environment concerning risks and uncertainty. Provided the new special problem and algorithm for its decision in a special type of economic environment. Author proposes an algorithm for general problem solving.

Keywords
combined market, stationary economic, non-stationary economy, investment strategy, investment, investor’s behavior, optimization, efficiency criterion
Date of publication
01.01.2017
Number of purchasers
4
Views
854
Readers community rating
0.0 (0 votes)
Cite   Download pdf
1

References



Additional sources and materials

Ajzin K.I., Livchits V.N. (2006). The Risk and Return of Securities on the Stock Markets on Stationary and NonStationary Economy. Audit and Financial Analysis 4, 195–199 (in Russian).


Bernstein W. (2004). The Intelligent Asset Allocator. How to Build Your Portfolio to Maximize Returns and Minimize Risk. Moscow: Lori (in Russian).


Bernstein W. (2014). The Investor’s Manifesto: Preparing for Prosperity, Armageddon, and Everything in Between. Moscow: Al’pina Pablisher / Al’pina Biznes Buks (in Russian).


Fama E.F. (1970). Efficient Capital Markets: A Review of Theory and Empirical Work. Journal of Finance 25(2), 383–417.


Gvishiani D.M., Emel’yanov S.V. (1978). Multi-Criteria Decision-Making Tasks. Moscow: Mashinostroenie (in Russian).


Izvestiya (2015). The Competition of Forecaster Has Won Analysts from MorganStanley. Izvestiya 30 декабря (in Russian).


Kossov V.V., Livchits V.N., Shaxnazarov A.G. (2000). Methodical Recommendations on Evaluation of Investment


Projects Efficiency. The Ministry of economy of the Russian Federation, the Ministry of Finance of the Russian


Federation, the State Committee for construction, architectural and housing policy; the leaders of the group of authors. Moscow: E’konomika (in Russian).


Kurmanova S.M., Kurmanova Ju.M. (2012). Optimization of Investor’s Behavior on the Mixed Market. Economic Analysis: Theory and Practice 22(277), 16–22 (in Russian).


Levit B.Y., Livchits V.N. (1972). Nonlinear Network Transport Problems. Moscow: Transport, 1–144 (in Russian).


Livchits V.N. (1971). The Choice of Optimal Solutions in Technical-Economic Calculations. Moscow: E’konomika (in Russian).


Livchits V.N. (1984). The Optimization in Long-Term Planning and Design. Moscow: E’konomika (in Russian).


Livchits V.N. (2013). System Analysis of Market Reforms in the Non-Stationary Economy of Russia: 1992–2013. Moscow: LENAND (in Russian).


Livchits V.N., Livchits S.V. (2010). System Analysis of Non-Stationary Economy of Russia (1992–2009): Market Reforms, Crisis, Investment Policy. Moscow: Poli Print Servis (in Russian).


Lur’e A.L. (1973). Economic Analysis of the Planning Models of a Socialist Economy. Moscow: Nauka (in Russian).


Mertens A.V. (1997). Investments: Lectures on Modern Financial Theory. XVI. Kiev: Kievskoe investicionnoe agentstvo (in Russian).


Pervozvanskij A.A., Pervozvanskaya T.N. (1994). Financial Market: Calculation and Risk. Moscow: Infra-M (in Russian).


Peters E’. (2000). Chaos and Order in the Capital Markets. A New View of Cycles, Prices, and Market Volatility. Moscow: Mir (in Russian).


Prokhorov Yu.V. (1988). Mathematical Encyclopedic Dictionary. Moscow: Sovetskaya e’nciklopediya (in Russian).


Smolyak S.A. (2002). Assessment of Efficiency of Investment Projects in Conditions of Risk and Uncertainty (Theory Expected Effect) Moscow: Nauka (in Russian).


Smolyak S.A. (2006). Discounting Cash Flows in the Evaluation of Efficiency of Investment Projects and Value of the Property. Moscow: Nauka (in Russian).


Tarasenko F.P. (1963). Introduction to Information Theory. Tomsk: Tomskij universitet (in Russian)Trubitsin A.V. (2013). Rational Economic Behavior: Models and Prospects. Moscow: RAS Institute of Economy (in Russian).


Vilenskij P.L., Livchits V.N. (2010). The Investment Analysis. Textbook for Students of MBA Program, Students Majoring in “Strategic Management” and “Finance”. Moscow: Gosudarstvennyj universitet – Vysshaya shkola e’konomiki, Vysshaya shkola menedzhmenta, Biznes E’lajnment (in Russian).


Vilenskij P.L., Livchits V.N., Smolyak S.A. (2015). Evaluation of Investment Projects Efficiency: Theory and Practice. Moscow: PoliPrintServis (in Russian).


Yudina I. (2004). Investor Behavior: Rational Versus Irrational. In the collection of scientific works “Information Economics and Management Dynamics of Complex Systems”. Issue IV. E.Yu. Ivanova, R.M. Nizhegorodceva (eds.). Moscow, Barnaul: Biznes-Yunitek (in Russian).


Zubov M. (2016). Ruslan Grinberg is the Most Accurate Forecaster: “The Government Does Not Want to Invest Money in Projects That They Are Not Stolen. But the Risks of Inaction is Even Greater”. Moskovskij komsomolec 26 February, 4 (in Russian).

Comments

No posts found

Write a review
Translate