Analysis of results of rationally caused behavioural efficient portfolios from the point of view of profitability and risk

The behavioural portfolio theory is the best theory explaining behavior of players and investors in case of decision making in the conditions of risk based on the data obtained experimentally. The main idea of the theory is that people in the majority prefer to undertake risk in situations when they know specific chances, but not the alternative scenario of risk in which chances are ambiguous. That is, they will always choose the known probability of a victory over unknown probability of a prize even if the known probability rather low, and unknown probability can be a victory guarantee. In other words, in this choice of acceptance of risks (such as rates, for example), people «prefer a devil whom they know» instead of accepting risk where chances difficult or cannot be calculated. Global financial crises of the latest time showed shortcomings of individual market tools and limitation of their application for investment decisions. It can be explained with negligence of investors to assessment of real risks as usually they just follow own intuition. In investment practice, unaccounted risks - it is a rather often widespread phenomenon, however, the investor needs the reliable mathematical tool for grounding the investment decision.

бағалы қағаз, қоржын, тәуекел, тәуекел тұжырымдамасы, тәуекелді бағалау, табыстылық деңгейі, инвестор, инвестициялар, ценные бумаги, портфель, риск, концепция риска, оценка рисков, уровень доходности, инвестор, инвестиции, securities, portfolio, risk, concept of risk, risk assessment, profitability level, investor, investments

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