… Harry Markowitz is author of what is probably the single most influential work in modern
finance: Portfolio Selection: Efficient Diversification of Investments (John Wiley and Sons, New …

FIG. I (b) acts in the face of known odds so as to maximize expected utility.(2) The utility
function is as illustrated in Figure i. We may assume it to be a continuous curve with at least first …

… and Markowitz’s historical series. But, while details vary, our Table 7 shows that utility functions
that did well in the Levy–Markowitz experiments also did well in Ederington’s experiment. …

In 1952, Harry Markowitz published" Portfolio Selection," a paper which revolutionized modern
investment theory and practice. The paper proposed that, in selecting investments, the …

… Students and practitioners in the field of Operations Research will find the" Markowitz
Rule" which today often aids the speed of determination of large matrix inversion problems in …

… utility function, but similar conclusions—in favor of mean-variance over mean-semivariance—presumably
apply for the broad range of utility functions for which Levy, Markowitz, and …

… 112 H. MARKOWITZ … An arbitrary set of H can be selected and the efficient set traced
out until E 0. should be selected so that the" artificial" E has a unique maximum. 2. …

… Markowitz results, nor will I go into important results of many others. Chapter 3 of Markowitz
(… Levy and Markowitz measure the efficacy of f(E, V) by the correlation between it and EU. Y. …

… For k = 1 we get equation (5); for k = 0 we have a method proposed by Markowitz. We shall
… Markowitz used two methods to approximate EU by a functionf (E, V) depending on E and V …

… Levy and Markowitz showed, for various utility functions and empirical returns distributions,
that … Levy and Markowitz considered only situations in which the expected utility maximizer …