The growth of relative wealth and the Kelly criterion
We propose an evolutionary framework for optimal portfolio growth theory in which investors subject to environmental pressures allocate their wealth between two assets. By considering both absolute wealth and relative wealth between investors, we show that different investor behaviors survive in dif...
| Main Authors: | , , |
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| Other Authors: | |
| Format: | Article |
| Language: | English |
| Published: |
Springer US
2018
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| Online Access: | http://hdl.handle.net/1721.1/114640 https://orcid.org/0000-0003-2944-7773 https://orcid.org/0000-0002-6908-4236 |