Strategic Asset Allocation in Money Management

This paper analyzes the dynamic portfolio choice implications of strategic interaction among money managers who compete for fund flows. We study such interaction between two risk-averse managers in continuous time, characterizing analytically their unique equilibrium investments. Driven by chasing a...

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Bibliographic Details
Published in:The Journal of finance (New York) 2014-02, Vol.69 (1), p.179-217
Main Authors: BASAK, SULEYMAN, MAKAROV, DMITRY
Format: Article
Language:English
Subjects:
Anreiz
Asset allocation
Asset management
Assets
Attitudes
Competitors
Contrarian investing
Decision analysis
Economic equilibrium
Equilibrium
Financial management
Finanzmarkt
Gambling
Geldmarkt
Investment advisors
Investment policy
Investment strategies
Investors
Managers
Money
Money management
Nash equilibrium
Portfolio management
Portfolios
Risk aversion
Risk management
Strategic management
Strategisches Management
Studies
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