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Selecting and Simulating Models for Management of Investment Portfolios Using Cybernetic Approach

Author

Listed:
  • Angel Marchev

    (University of National and World Economy, Sofia, Bulgaria)

  • Angel Marchev Jr.

    (University of National and World Economy, Sofia, Bulgaria)

Abstract

The theory of investment portfolios is a well defined component of financial science. While sound in principle, it faces some setbacks in its real-world implementation. The authors state that cybernetics present an unorthodox "new" way of studying the process of portfolio management. First, the known theory is translated in cybernetic terminology. Second, various known models of investors are competed systematically on a unified data track. Third, by heuristic restructuring new models of investors may be assembled, which in turn are to be competed as well.

Suggested Citation

  • Angel Marchev & Angel Marchev Jr., 2012. "Selecting and Simulating Models for Management of Investment Portfolios Using Cybernetic Approach," Economic Alternatives, University of National and World Economy, Sofia, Bulgaria, issue 2, pages 38-54, April.
    • Handle: RePEc:nwe:eajour:y:2012:i:2:p:38-54
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    More about this item

    Keywords

    competition data track; heuristic inductive approach;

    JEL classification:

    • C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models
    • C40 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - General
    • C60 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - General
    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions

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