【摘要】 主要对一般情形、含无风险资产和含外生负债三种情况下的TSF模型用直观解法求解,并对其最优解、可行解的存在性条件进行详细讨论,另外还提出一些值得进一步研究的问题.更多还原

【Abstract】 Telser’s Safety-First Model (TSF Model) is a representative of Safety-First Model, which is one of the three kinds of most popular models in portfolio selection of modern finance. This paper tries to use the intuitive method to solve TSF Model in three cases: general case, with risk-free asset case, and with exogenous liability case, respectively. And this paper also details the existence conditions to the feasible solutions and the optimal solutions. We also provide some problems that deserve to be studied further.更多还原